News at Richemont, of which Alan Quasha is director, is its “acquisition of shares in NET-A PORTER Limited.” What this means is that the company will “hold an effective economic interest of more than 93 per cent in the issued ordinary capital of NET-A PORTER.” This is somewhat impressive since NET-A-PORTER Limited (which owns NET-A-PORTER.COM, the “premier online luxury fashion retailer”) boasts fashion collections from more than 300 leading world designers. Its customer service is top notch and it exports its fashions to more than 170 countries around the world. The company’s latest milestone was its one millionth order. As a result, the company is doing incredibly well financially, with an “unaudited turnover for the financial year which ended 31 January 2010 [being] approximately £120 million.” This data spells great news for Alan Quasha and the staff at Richemont.
In recent news for Compagnie Financière Richemont SA, Mr. Norbert Platt, the current CEO will be stepping down and retiring at the end of the year for health reasons. His position will be replaced, starting April 1, 2010, by Mr. Johann Rupert, the Group’s Executive Chairman. Mr. Platt will remain as the director of Richemont and he will act as an advisor to the Group, including Alan Quasha, a Non-Executive Director.
Commenting on the changes, Mr. Rupert explains, “Since he took up the role of Chief Executive Officer in 2004, Norbert has achieved remarkable results in terms of building the Group, rationalising its operations and improving our logistics infrastructure. Over the period we
have seen a dramatic growth in sales and profitability at Richemont.”
Richemont is a very interesting company with ties to many countries and to many types of products. They are a number of the world’s leading companies who manufacture and sell luxury goods. They are particularly focused in the fields of jewelry, luxury watches and writing instruments.
As one of the members of the Board of Directors of Compagnie Financière Richemont SA, Alan Quasha is responsible, along with the other 14 members, for the strategic direction of the company and the appointment of senior management. They also prepare the company and group’s financial statements and organize the shareholders’ annual meeting.
The Board of Directors, including Alan Quasha as a Non-Executive Director, represents a unique group. It consists of leaders from nine countries including Norbert Platt from Germany, Johann Rupert from South Africa, Alain Dominique Perrin from Italy and many others.
