Dunhill: Difference between revisions

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<font size="2">'''Addendum:''' In 1989 Richemont acquires Philip Morris' 30 percent interest in Rothmans International<ref name=richemont>Richemont History, including Significant Investments and Divestments Retrieved 06 February 2020 from [https://www.richemont.com/group/history-including-significant-investments-and-divestments.html Richemont]</ref>. Rothmans International Group was formed in October 1993 through the reorganization of the tobacco and luxury goods businesses of Richmont, Rothmans, and Dunhill into two new listed groups, Rothmans International and Vendome. Rothmans International comprises all of Rothman's tobacco businesses and certain tobacco trademarks previously owned by Dunhill and Richmont. International cigarette brands owned and controlled by the group include Rothmans, Peter Stuyvesant, Dunhill, Craven A, and Golden American. Under its constitution, Rothmans International has a dual holding company structure, in which the shareholders hold units comprising twinned shares in Rothmans International Plc, a British company, and Rothmans International NV a Dutch company. Rothmans International Plc owns the UK-based businesses and Rothmans International NV owns non-UK based businesses. The composition of the boards of both companies is identical. Following the reorganization, Rothmans Tobacco (Holdings) SA, an indirectly wholly-owned Richmont subsidiary, owns 61% of the Rothmans International units, with the balance being held by former public shareholders of Rothmans and Dunhill<ref name=fu>Fundinguniverse (1998). Rothmans UK Holdings Limited History. Retrieved 06 March 2020 from [http://www.fundinguniverse.com/company-histories/rothmans-uk-holdings-limited-history/ fundinguniverse.com]</ref>. Vendome is now called Richemont (created in 1988 by the spin-off of the international assets owned by Rembrandt Group Limited of South Africa) and owns percent effective interest of BAT stock.<br> In 1995 Richemont buyout of Rothmans International minority shareholders. In 1996 Merger of Richemont's tobacco interests with those in South Africa held by Rembrandt Group Limited, Richemont owns 67 percent of the enlarged tobacco group.  In 1999 Merger of Rothmans International with British American Tobacco (Richemont holds 23.3 percent effective interest in the enlarged British American Tobacco)<ref name=richemont>Richemont History, including Significant Investments and Divestments Retrieved 06 February 2020 from [https://www.richemont.com/group/history-including-significant-investments-and-divestments.html Richemont]</ref>. The Dunhill brand as owned by Richemont was organized into two separately controlled entities: Dunhill Manufacturing (The White Spot Smoker's Accessory Division: pipes, lighters, leather goods, etc), and Dunhill luxury goods, which includes the stores, watches, pens (Dunhill bought Mont-Blanc around 1977), clothes etc<ref name=richemont>Richemont History, including Significant Investments and Divestments Retrieved 06 February 2020 from [https://www.richemont.com/group/history-including-significant-investments-and-divestments.html Richemont]</ref> (Richard Dunhill headed the pipe making division). Today, it is not a separate entity. The White Spot (smokers' accessory) division is a product division within Alfred Dunhill Limited (like menswear, leather goods or hard products)<ref name=hener>Hener, K. S. Product Line Director - The White Spot Smoker's Accessory Division and Walthamstow site. (Conversations held between 2019 and 2020).</ref> The stores and other branded items are run separately by people who figure their potential customer base is 95% non-smokers.<ref name=balfour21>Balfour, Michael. (1992). Alfred Dunhill, One Hundred Years and More, Introduction (pp.7-11). London, Weidenfield and Nicolson.</ref></font>