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Richemont Hires Consultant to Sell Its Lancel Luxury Bags

Posted: Sep. 23rd, 2013  |  By DailyLuxe News

Luxury conglomerate Richemont announced that it has hired an advising firm to assist with the selling of its luxury leather bags by Lancel, according to a report by Bloomberg on Friday.

Nomura Holdings will help Richemont with the marketing and selling of luxury handbags by Lancel. Richemont gained control of the Paris-based Lancel, in 1997, buying it for $342 million.

The goal is to revitalize the under-performing business by eliminating its bad investments. It is rumored that Richemont may dissolve the division.

“The divestment of Lancel would be seen as a positive step as it would confirm that Richemont is willing to tackle their underperforming businesses,” Rene Weber, an analyst at Bank Vontobel, wrote in a note to investors. He estimates Lancel would be worth 200 million euros.

Read More on bloomberg.com
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