Luxembourg, January 13th, 2021 - After having invested into Swiss Luxury brandmaker Richemont in April 2020 at a price of 57 CHF per share, 36 Square Capital has decided to sell off its position.
Main consideration has been the strong appreciation of its share price climbing to 85 CHF which is beyond our overvaluation threshold.
We will reconsider buying Richemont at more favourable prices in the future as we strongly believe in the brands represented by Richemont Group.
