Richmont executive chairman Johann Rupert said Ralph Lauren’s “impeccable taste, style and attention to detail” combined with Richemont’s expertise in jewellery and watches has led to a “fascinating business venture”.
The Ralph Lauren Watch and Jewelry Company has launched its inaugural watch collection at the Salon International de la Haute Horlogerie fair in Switzerland.
The Ralph Lauren Stirrup line of watches in 18 carat white or rose gold as well as limited edition platinum is inspired by “heritage equestrian style, a legacy of fine watchmaking and the celebrated history of Polo Ralph Lauren”.
Featuring a distinctive stirrup-shaped face, the Stirrup watch also bears an embossed ‘RL’ or a single diamond on its crown.
The launch follows last year’s announcement that Polo Ralph Lauren and Richemont had formed a 50-50 joint venture company to “design, develop, manufacture and distribute luxury watches and fine jewelry through select Ralph Lauren boutiques and the finest independent jewelry and luxury watch retailers”.
The new company is Richemont’s first joint venture with a luxury fashion designer and is Polo Ralph Lauren’s first foray into the luxury jewellery and watch businesses.
Polo Ralph Lauren Corporation chairman and CEO Ralph Lauren said he had waited a long time to create and introduce timepieces that “exemplify the ultimate in luxury and quality”.
“Richemont shares that understanding and has the global reputation and experience to fulfill these shared goals,” he said. “I have the highest confidence that this unique partnership will be tremendously successful and an important part of our global luxury accessories strategy.”
“Jointly, we aim to create a new luxury business, which I am confident will develop into a world leader,” he said.