Third Point, one of the world’s most aggressive activist funds, has built up a significant position in Cartier owner Richemont, Miss Tweed has learned.
Third Point and another hedge fund, which has a smaller position in the Swiss luxury group, are piling pressure on Richemont Chairman Johann Rupert to make moves that will improve its stock market price performance. Based in New York, Third Point is known for forcing companies to take actions that lift their share price. Examples from the past few years include Nestlé and Sony Corporation.
Led by charismatic CEO Dan Loeb, Third Point is also trying to break up Royal Dutch Shell. It has taken a stake in Shell worth about $750 million and called for it to be broken up into “multiple stand-alone companies”. Loeb has called Shell “one of the cheapest large-cap stocks in the world.”
Simultaneously, Third Point is now engaging with Richemont. Miss Tweed has the details.
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A Year in the News 2021-2022 is a compilation of Miss Tweed's stories published online during its second year. Like the first yearbook, it is a limited edition. Hence, it is a collector's item. It is designed to celebrate the work of illustrator Claire Laude. Each illustration runs next to the first two paragraph of the story.
This book is a compilation of Miss Tweed’s stories during its first year. The digital revolution, the closely guarded secrets of LVMH, Richemont and Kering and the future of watchmaking are among the many topics Miss Tweed covered between the summer of 2020 and the summer of 2021.
Author and journalist Astrid Wendlandt conducted a four-year investigation into the
secretive world of fashion and luxury involving hundreds of interviews with top executives and
Comment l’industrie du luxe et de la mode, quasi-inexistante il y a quarante ans, est
devenue une puissance mondiale ? Dans cette anthropologie du glamour, la journaliste Astrid Wendlandt
épingle ses super-héros et analyse ses contradictions.