Deals

Richemont Acquires Belgian Luxury Handbag Maker Delvaux

Terms of purchase not disclosed; won’t have material impact
Deal won’t solve Richemont’s problems in this segment: Citi

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By Angelina Rascouet

June 30, 2021 at 4:30 PM UTC

Updated on

July 1, 2021 at 7:06 AM UTC

This article is for subscribers only.

Richemont has acquired Belgian leather-goods label Delvaux, adding a niche handbag maker to a lineup of luxury brands that includes Cartier and Dunhill.

Delvaux was controlled by Hong Kong billionaire brothers Victor and William Fung as well as Singapore’s Temasek Holdings Pte. The brand is known for bags like the $4,800-and-up Brilliant, which features a top handle and a buckle lock.