Fake watch - Polo Ralph Lauren and Richemont - New Great Joint Venture

Two luxury goods giants Polo Ralph Lauren and Richemont Group formed Polo Ralph Lauren Watch and Jewelry Company, S.A.R.L.

They found joint venture with the aim to produce luxury goods and sell them around the world through Ralph Lauren boutiques and other independent retailers. Polo Ralph Lauren and Richemont Group will be equal share holders – each of them will receive 50 percent of shares. They intend to launch the products in the fall of 2008 and hope to have a long-term collaboration.

Johann Rupert, Executive Chairman of Richemont said that he had always admired Ralph Lauren's style, perfect taste and attention to every detail. He expressed confidence that that joint venture would bring amazing results for both companies.

Ralph Lauren who is the Chairman and Chief Executive Officer of Polo Ralph Lauren Corporation said that the partnership has all chances of gaining success due to the companies' great potential and experience.

That agreement among Richemont Group and Polo Ralph Lauren will certainly have a great influence upon the companies' further development and will become one of their main strategies. The companies' goal is to create an absolutely new luxury business and make it the most successful one.

Briefly on Richemont Group

Richemont Group that produces and sells wrist watches and jewelry pieces is located in Geneva. The trade mark and factory itself was founded in 1858 in Switzerland.

Richemont is one of the transnational group companies that conducts its business in the field of luxury products, jewelry pieces, wristwatches and writing instruments.

Richemont is an owner and investor of the biggest jewelry enterprises. Such prestigious and world known companies as Vacheron Constantin, Cartier, Montblanc, IWC, Piaget, Van Cleef and Arpels and Jaeger-LeCoultre are a part of it.

Polo Ralph Lauren is an American corporation - one of the richest players in the world luxury. It was founded in 1968 by the designer Ralph Lauren.

Nowadays it is one of the biggest clothing producers in the U.S. There are almost 300 of its boutiques all around the world.

The corporation deals with luxury lifestyle goods that can be divided into 4 categories: home, fragrances, apparel and accessories.