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. Briefly on Polo Ralph Lauren Corporation 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.
Richemont and Polo Ralph Lauren decided to join their skills and rich experience in order to form a joint venture, the name of which is Polo Ralph Lauren Watch and Jewelry Company, S.A.R.L. The representatives of the global luxury business decided to unite their efforts in order to develop luxury timepieces and fine jewelry items. 

After the new products are manufactured, they will be distributed through Ralph Lauren boutiques and independent retailers of jewelery items and luxury timepieces. The first jointly developed products are to appear in the fall of the following year.

Richemont and Polo Ralph Lauren will equally share 50 percent of the new joint venture. The partners hope for long-term cooperation. The union will be a completely new experience for both Richemont, which has never cooperated with a luxury fashion designer before, and Polo Ralph Lauren, which, until the present day, has not maintained any links with the precious jewelry and luxury watch businesses. 

Ralph Lauren, holding the post of Polo Ralph Lauren's Chairman and Chief Executive Officer , believes that the company's experience in the area of designing and marketing luxury lifestyle products will blend with Richemont’s experience on a global scale.

Johann Rupert, owning the position of Richemont's Executive Chairman counts on Ralph Lauren's reputation and image based upon distinctive taste, style and attention to detail. He hopes that the newly formed joint venture will benefit from these factors, as well Richemont’s expertise in the area of jewelry and watches.