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By Max Bernhard
Compagnie Financiere Richemont SA (CFR.EB) said Monday that it has sold its French leather-goods subsidiary Lancel to Italian company Piquadro SpA (PQ.MI), which makes high-end brief cases and leather bags.
The Swiss luxury-goods conglomerate said the deal will have no material impact on its balance sheet, cash flow or results for the fiscal year ending March 2019.
It didn't disclose any financial details of the deal.
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(END) Dow Jones Newswires
June 04, 2018 01:55 ET (05:55 GMT)
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