Cie. Financiere Richemont SA, the owner of the Cartier brand, fell the most in almost two months in Zurich trading after a shareholder sold about 7 million shares for 539 million Swiss francs ($569 million).
Cie. Financiere Richemont SA, which yesterday ruled out selling Net-a-Porter, may spin off the online fashion retailer on the stock market as it refocuses on luxury watches and jewelry, according to Sanford C. Bernstein.
Tiffany & Co., which almost tripled its value selling engagement rings since the recession, may be a takeover target after ending an alliance with Swatch Group AG and could hand investors an extra $3.4 billion in a deal.
Yoox SpA Chief Executive Officer Federico Marchetti said the online retailer is looking at acquisitions to bolster its business, though it isn’t in talks currently to buy Cie. Financiere Richemont SA’s Net-a-Porter.
Hermes International SCA rose the most in more than nine months in Paris trading on speculation the luxury-goods company’s founding family may be more willing to sell following the death of former president and chief executive Jean-Louis Dumas.
Cie. Financiere Richemont SA , the world’s largest jewelry maker, reported higher first-half profit than analysts anticipated as Asian and American consumers bought more Cartier necklaces and Vacheron Constantin watches.