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Over 300 articles

Spotlight | Singapore
Richard Mille's Singapore expansion rattled by money-laundering scandal

Richard Mille watches are at the heart of a money-laundering case in Singapore. © Studio Pachamama

Luxury watch manufacturer Richard Mille has just opened a lavish second boutique in Singapore, a key stronghold for the brand. Meanwhile, the group's pricey watches are at the centre of a money-laundering scandal that is rocking the city-state. [...]

Published on 12/10/2023 at 06:00 GMT Reading time 4 minutes

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Entourage

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Alexandre Mille
Amanda Mille
by DFS
Chanel
Dave Tan
DFS
Eddie Tan
Indranee Rajah
Kering
Las Vegas Sands
Lotte
Louis Vuitton
LVMH
Mae Tan
Marina Bay Sands
Michelle Yeoh
Netflix
Orient Crown
Pan Pacific Orchard
Patek Philippe
Richard Mille
Richemont
Singapore at Scotts Road
Singapore Cruise Centre
Singapore Police Force
T-Galleria

Spotlight | France
Money laundering: French finance ministry puts luxury sector under surveillance

After focusing first on the watch trade, French authorities are now cracking down on the luxury sector as a whole. They are taking aim at everything from jewellery to leather and second-hand goods, with in-depth investigations and heavy sanctions.

Subscribers only Entourage 12.09.2024

France's consumer affairs and fraud watchdog, the DGCCRF, conducted a survey of the luxury goods sector between October 2022 and June 2023.

France
Richard Mille's Middle East sales stall

Despite sustained growth in the brand's Abu Dhabi and Dubai boutiques, the ultra-luxury watch group Richard Mille has seen its Middle East sales fall below the 100 million Swiss franc mark for the first time.

Subscribers only Houses 29.08.2024

Spotlight | France
France bids to clean up watch trade in anti-laundering battle

As criminal networks increasingly turn to luxury watches to launder and transfer illicit money, the French finance ministry, after having tried to work together with retailers, is now taking a hard line and has handed out its first fines.

Subscribers only Entourage 18.07.2024

To launder their profits and transport them from one country to another, criminal networks are increasingly turning to luxury watches.

France
Richard Mille's future looks rosé

The watchmaking entrepreneur has been handing over responsibilities to his children for the last year, including management of his southern French vineyard to his daughter. The rosé producing estate is co-owned by the long-term, global distributors of Mille's eponymous watch brand.

Subscribers only Families 18.07.2024

Spotlight | Switzerland
Will Richard Mille remain independent?

As the founder of the namesake ultra-luxury watch brand gradually hands over power to his two children, Richard Mille is also exploring other options for his company's future, including a potential sale.

Subscribers only Houses 11.01.2024

Richard Mille is exploring several options for the future of his group, including a sale.

South Korea, United States
What does Coupang have in store for Farfetch?

After its last-minute acquisition of Farfetch in December, the South Korean conglomerate wants to apply the online retail group's technical solutions to product placement, a fiercely competitive niche.

Subscribers only Entourage 11.01.2024

France, Switzerland
The diamond-trading Benmussa clan's record French tax adjustment

The highest court in France has made final a tax adjustment of over €30m that the Benmussas, a family of stone and gem merchants, had been trying to shake for more than a decade.

Subscribers only Families 14.12.2023

France, Switzerland
Richard Mille's property portfolio

Richard Mille, founder of the namesake luxury watch company, owns two châteaux in the French countryside, as well as a 550m2 building on the banks of the Seine in Paris's 16th arrondissement.

Subscribers only Families 23.11.2023

Switzerland
Time flies aboard Richard Mille's jet

Luxury watch manufacturer Richard Mille last year purchased an aircraft that its founder and partners use frequently. But the plane is also hired out to third parties.

Subscribers only Families 26.10.2023

Front Row | France, UAE
The Seddiqi family, L'Oréal's new partner in Dubai

In acquiring luxury cosmetics brand Aesop, L'Oréal inherits a partnership with one of Dubai's leading luxury dynasties.

Subscribers only Families 13.07.2023

South Korea
LVMH deploys diplomatic touch in Seoul

The luxury giant is relying on France's diplomatic corps to help develop Dior, Vuitton and other LVMH brands in South Korea, a pivotal element of the very strategic Asian luxury market. The Bernard Arnault-led group is also cultivating relationships with South Korean authorities.

Subscribers only Houses 04.05.2023

Spotlight | Saudi Arabia, Switzerland
The secret negotiations paving the way for Richemont's rise in Saudi Arabia

Just as major luxury brands are jostling for a foothold in the coveted Saudi market, Swiss giant Richemont has signed a major agreement in the country. The contract opens the door to the local market, as well as offering an opportunity to tap into the stream of wealthy visitors making Hajj pilgrimages to the kingdom.

Subscribers only Houses 27.04.2023

Swiss group Richemont will open a TimeVallée shop at a strategic location in Saudi Arabia.

Spotlight | Saudi Arabia
LVMH, Kering, Richemont and Rolex face off in Riyadh, luxury's new El Dorado

The last Arab country under-equipped in malls and luxury shops, Saudi Arabia is progressively opening its doors to perfumes, jewellery and cosmetics, under Crown Prince Mohammed bin Salman's guidance. The industry's biggest names are jockeying for position.

Free access Houses 27.10.2022

Set up email notifications for these topics

Alexandre Mille
Amanda Mille
by DFS
Chanel
Dave Tan
DFS
Eddie Tan
Indranee Rajah
Kering
Las Vegas Sands
Lotte
Louis Vuitton
LVMH
Mae Tan
Marina Bay Sands
Michelle Yeoh
Netflix
Orient Crown
Pan Pacific Orchard
Patek Philippe
Richard Mille
Richemont
Singapore at Scotts Road
Singapore Cruise Centre
Singapore Police Force
T-Galleria

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