Richemont SWOT Analysis, Competitors & USP

Richemont

Parent Company

Compagnie Financière Richemont S.A.

Category

Specialty luxury goods stores

Sector

Lifestyle and Retail

Tagline/ Slogan

N.A.

USP

Richemont is a leading company in the field of luxury watches and goods

Richemont STP

Segment

Aspiration lifestyle based segment

Target Group

SEC A and SEC A+ audience

Positioning

Richemont offers unique design with traditional skills

Richemont SWOT Analysis

Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Richemont. Strengths are:

1. Richemont makes jewellery, fine watchmaking and premium accessories, which encompasses writing instruments, leather goods and fashion.

2. One of the top 10 biggest company in the Swiss Market Index

3. Richemont is the second-largest luxury goods company in the world by turnover.

4. Particular strengths in jewellery, luxury watches and writing instruments

5. Employs over 20,000 people

6. Richemont encompass several of the most prestigious names in the luxury industry including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai.

Weaknesses

Here are the weaknesses of Richemont :

1. Richemont need to promote and market brands aggressively as compared to some of its competitors

2. Limited global presence specially in emerging economies

Opportunities

Following are the Opportunities of Richemont :

1. A joint venture of Richemont and Polo Ralph Lauren can help boost business

2. More than dozen of companies are fully owned subsidies of Richemont eg. Montblanc.

3. More enhanced penetration in global and emerging economies

Threats

The threats of Richemont are as mentioned :

1. Competition largely exists on how potent and valuable the brand image has become.

2. Richemont can invest huge money in brand promotions in order to maintain their image.

3. Counterfeits often penetrate the market which hurt the brand image

Richemont Competition

Competitors

Below are the 10 main Richemont competitors :

1. Louis Vuitton

2. Gucci

3. Tiffany and Co

4. Bulgari

5. De Beers

6. Cartier

7. Chopard

8. Rolex

9. Omega

10. Rado