Compagnie Financière Richemont S.A., commonly known as Richemont, is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. Through its various subsidiaries, Richemont produces and sells jewellery, watches, leather goods, pens, firearms, clothing, and accessories. Richemont is publicly traded as CFR on the SIX Swiss Exchange and the JSE. The brands it owns include A. Lange & Söhne, Azzedine Alaïa, Baume & Mercier, Buccellati, Cartier, Chloé, Dunhill, IWC Schaffhausen, Giampiero Bodino, Jaeger-LeCoultre, Montblanc, Officine Panerai, Piaget, Peter Millar, Purdey, Roger Dubuis, Vacheron Constantin, Van Cleef & Arpels and Delvaux. , Compagnie Financière Richemont S.A. was the sixth-largest corporation by market capitalization in the Swiss Market Index. As of 2017, Richemont was the third-largest luxury goods company in the world after LVMH and Estée Lauder Companies. History Johann Rupert founded Compagnie Financière Richemont S.A. when he spun off the international assets of Rembrandt Group Ltd. (now Remgro Limited), a South Africa-based company founded in the 1940s by his father, Anton Rupert. The division, originally founded on 5 March 1979 as Intercontinental Mining and Resources S.A., was later renamed IMR Group S.A. on 31 March 1987 and finally Richemont S.A. on 17 August 1988. The spin-off was completed on 20 September 1988. The luxury goods investments of Rembrandt Group combined with Rothmans International formed the initial group of Richemont subsidiaries. In March 2007, Richemont and Polo Ralph Lauren Inc. announced the formation of a 50/50 joint venture, the Polo Ralph Lauren Watch and Jewelry Company SÀRL. In October 2008, the Group divested all of its remaining interests in the tobacco industry. , Compagnie Financière Richemont S.A. is the sixth largest corporation by market capitalization in the Swiss Market Index. As of 2014, Richemont is the second-largest luxury goods company in the world after LVMH. The compensation of the Richemont group's executives increased by an average of 14% in 2018. Organization Compagnie Financière Richemont S.A. organizes its business activities into three operating divisions: Jewellery Maisons, Specialist Watchmakers and Other Businesses. Cartier, Van Cleef & Arpels, and Buccellati constitute the Jewellery Maisons. The Specialist Watchmakers group is composed of A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis, Vacheron Constantin and the joint venture with the Ralph Lauren Watch & Jewelry Co. The Other Businesses division includes Azzedine Alaïa, Chloé, Delvaux, Dunhill, Montblanc, Peter Millar, and Purdey. Ownership and control The largest