Richmont Group and the Global Financial Crisis

The global financial crisis has no doubt been a historic event which forced businesses worldwide to develop new and divergent strategies to cope with the current economic environment. The aim of this thesis is to lock a closer look at what Richemont Group, one of the pencil lead Corporations in the Luxury industry, construct done to not besides cope with the tough economic environment, but also how Richemont have managed to increase sales significantly during this period. With brands such as Cartier, Montblanc, and legion(predicate) more under Richemonts umbrella, remaining a attractor in the industry is crucial. Strategies that have been implemented by Richemont for well-nigh of their vast portfolio of brands include investing in Manufacturing, Distribution channels, and a unified ERP system for the group of brands. In addition, Richemont have late acquired an online Fashion and Jewelry Maison called Net a Porter which has exceeded expectations by far.

Moreover, an extremely important factor for the general issue in the Luxury industry is the emphasis on emerging markets, which in Richemonts case has seen China become its biggest market in the last couple of years. It is obvious that emerging markets such as China and India have allowed Corporations in the Luxury Industry to go for and increase sales during a global economic downturn, except how have internal strategies such as investing in Manufacturing, and distribution channels aided in the continuous issue of Richemont despite such negative economic times? total research and analyses has been undertaken to illustrate how an organization such as Richemont has achieved growth in todays economic environment. If you want to ticktack a full essay, order it on our website: Orderessay

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