Richard Miller’s 2013 Revenue Increases 18% And Kering Kering Group Acquisition Negotiation Breaks Down

Swiss watch brand Richard Mille’s revenue in 2013 reached 132 million Swiss francs, an increase of 17.86% from 2012’s 112 million Swiss francs, with an annual output close to 3,000.

The Frenchman Richard Mille, who founded the watch brand of the same name in 2001, set a target of 2014 annual revenue of 150 million Swiss francs and an annual output increase to 3,300. The brand will launch eight to nine new models this year, and women’s watches with strong demand are the focus of its development.

In an interview with luxury watch industry website, Richard Mille introduced that the brand currently has 16 independent boutiques worldwide, most of which have established joint ventures with local retailers in partnership and opened in 2014. A total of 25 are targeted. New cities such as New York, London, Doha and Jeddah are planned to be added. Paris stores are also expected to move to a 220-square-meter store in Avenue Matignon before Easter.

As for the acquisition negotiations with French luxury giant Kering SA (KER.PA) Kering Group, Richard Mille said it has broken down, and he revealed that the biggest stumbling block is not the price, ‘When you feel that if you choose more When you get more out of your money, you will naturally stop, ‘said Richard Mille. Last June, we reported that Kering SA (KER.PA) Kering Group intends to acquire 51% of Richard Mille‚Äôs Richard Mille and may gradually increase its share in the future. According to the report, Richard Mille Richard Miller has a market value of about CHF 340-400 million, which is 2.5-3 times his estimated revenue of CHF 135 million in 2013.

In the future, Richard Mille will adopt a slow-growth development method, and keep going up to a higher level each year while maintaining the supply shortage and the continuous increase in selling prices.