The following joint press release has been issued today by Sumitomo Corporation, Tokyo and Richemont Japan Limited, Tokyo.
Two leading players in the industry are pleased to announce the formation of Lancel Japan Limited (Capital: JPY350 million), whose purpose will be to exclusively import, sell, distribute and promote Lancel in Japan.

In this partnership, Sumitomo Corporation will own 70 percent and Richemont Japan Limited will own 30 percent of Lancel Japan Limited. Sumitomo will provide its local operational expertise cultivated through decades of engagement in the retail and brand related businesses, as well as its comprehensive knowledge of the market. Richemont which owns a portfolio of leading international 'Maisons', will provide its extensive expertise and will work with Lancel Paris to build the Lancel business in Japan.  Both parties believe that the success of a joint venture hinges on the abilities of the stakeholders involved to share the vision, to collaborate, to fully respect each other's competencies and to complement the strengths of the other party, and are committed to this joint venture on a long-term basis.

Within the next 5 years, Lancel Japan plans to open 40 - 45 stores including shop in shops in Department Stores nationwide as well as flagship stores in prime locations in areas such as Ginza, Aoyama, Osaka and Nagoya, and will be targeting sales of over JPY10 billion.
It is expected that the operation will be launched on October 1, 2008.

The evolution of the Lancel
Lancel was founded in Paris in 1876. Lancel prides itself on a heritage of over 130 years of creating innovative luxury leather goods of the highest quality. In recent years, the Maison has refocused its strategy on this core strength, with a competitive offering of attractive women's bags and a distinctive brand image. Lancel's product range has been entirely redesigned to provide an exclusive, unrivalled offering including such successful lines as Flirt, Espiègle, Califourchon, Balancel, or Pirate.
A new boutique concept, designed by Christophe Pillet and inspired by the Parisian '20s, will be rolled out globally whilst, Isabelle Adjani, the internationally acclaimed actress, will lend a touch of 'French Légèreté' in her new role as brand ambassador, embodying the frivolity and natural charm reflected in the unique spirit of Lancel.

ABOUT SUMITOMO CORPORATION
Sumitomo Corporation is a leading general trading company, boasting 150 locations in 70 countries throughout the world. The Sumitomo Corporation Media/ Lifestyle Business Unit integrate a wide range of business segments in the field of media, networks and lifestyle retail business. In the media field, it is a major player in the cable TV (CATV) and the multichannel television programming segment and is also involved in the film related businesses. In the network field, its business activities center on the IT solutions, Internet related business and mobile communication. In the lifestyle and retail fields, it owns the largest TV shopping business in Japan, and a wide range of portfolios in the retail sector including supermarkets and drugstores and is heavily engaged in the brand related business. Its brand portfolio includes Barneys Japan, NARA CAMICIE and FEILER.

ABOUT RICHEMONT JAPAN LIMITED
Richemont Japan Limited is a 100% subsidiary of Compagnie Financiere Richemont SA, Switzerland which owns a portfolio of leading international 'Maisons', which are managed independently of one another, recognising their individuality and uniqueness. The businesses operates in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist Watchmakers, which comprises Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing Instrument Maisons- Montblanc and Montegrappa; Leather and Accessories Maisons, being Alfred Dunhill and Lancel; and Other Businesses, which includes, specifically, Chloé.

LANCEL Champs-Elysees Store

LANCEL Opera Store

LANCEL 2008 Fall Winter Advertising with Isabelle Adjani

Pirate                                              Flirt 

Califourchon                                     Frasques 

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