Is Richemont Looking to Sell Chloé?

Reports that Swiss luxury goods powerhouse Richemont is looking to sell Chloé are gaining steam.
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Alyssa Vingan Klein
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Reports that Swiss luxury goods powerhouse Richemont is looking to sell Chloé are gaining steam.
Imaxtree

Imaxtree

Reports that Swiss luxury goods powerhouse Richemont is looking to sell Chloé are gaining steam.

Following a report in Reuters last month, which claimed that Richemont was "informally" looking for potential buyers for Chloé, WWD on Wednesday said the company is "actively shopping" for a purchaser.

Richemont did not immediately respond to our request for comment.

Richemont boasts an impressive portfolio that includes Cartier, Piaget and Azzedine Alaïa. In recent months, several publications have reported that the conglomerate is looking to shift its focus to luxury watches and jewelry, which far outperform the company's fashion brands. Because of this, the future of Richemont's "soft luxury" labels -- Chloé and Alaïa among them -- hangs in the balance. Chinese clothing chain Shanghai Tang and and British menswear brand Dunhill are also reportedly being shopped around.

Some experts, including Thomas Chauvet, head of European Luxury Goods Research at Citigroup in London (via WWD), expect Richemont to move away from fashion and accessories completely in the near future.

One asset that's apparently not for sale is the Net-a-Porter Group. On Oct. 10, Richemont was forced to come forward and dispel the rumor that the retail group was up for sale in a public statement -- an uncharacteristic move for the company.