.iwc

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Status:	Delegated
Date Implemented:	13 December 2014
Type:	Brand TLD
Priority #:	518 - Richemont DNS Inc.

.iwc is a Brand TLD delegated in ICANN's New gTLD Program. Richemont DNS Inc. manages the TLD and is its Registry. The proposed application succeeded and was delegated to the Root Zone on 13 December, 2014.

Application Details

The following is excerpted from the applicant's response to question #18:

"Since 1868, IWC Schaffhausen, Branch of Richemont International SA (“IWC”) has been crafting exquisite timepieces, in which innovative ideas are combined with pure, distinctive designs. With the focus on technology, its products appeal to watch enthusiasts with an interest in engineering and an affinity with discreet luxury. IWC is the only major Swiss watchmaker located in Northern Switzerland is an active member of the Federation of the Swiss Watch Industry FH.

Its ultimate parent company is Compagnie Financière Richemont S.A. (“CFR”), a Swiss luxury goods holding company, which was created in 1988. This application is being made by Richemont DNS Inc. (“Richemont DNS”), one of CFR’s indirect wholly-owned subsidiaries. The group of companies whose ultimate parent company is CFR are referred to herein collectively as “Richemont”. Richemont’s luxury businesses operate globally. The largest market is Asia-Pacific, which generates more than 40 per cent of sales. We believe the diversity of our geographical operations, with a lack of dependency on any one market, represents a long-term competitive advantage. IWC, through its various divisions, operates through more than 950 points of sale for watches and accessories in 94 countries worldwide.

Richemont directly employs more than 20,000 people worldwide and has employees based in all major regions of the world. Two-thirds of Richemont’s employees are based in Europe, but Asia-Pacific and the Americas are also significant and growing areas of employment. The majority of Richemont’s employees in Europe are based in Switzerland, France, and Germany, where the manufacture of luxury goods is concentrated. Asia and the Far East are growing markets. In all regions, employees are engaged in retail, distribution, after sales service and⁄or administrative functions.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont’s South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing. Richemont is the eighth largest company in the Swiss Market Index and, as of 2007, Richemont was the third-largest luxury goods company in the world by annual revenues. In the 2010⁄2011 financial year, Richemont sales were €6.892 billion, a rise of 33% on the previous year (at actual exchange rates) and our operating profit rose by 63% to €1.355 billion.

Under the Richemont brands, investments in research, development and innovation extend to watch movements, new product designs and marketing-related activities. The annual accounting charge for research and development costs is some €20 million. IWC is a registered trademark in jurisdictions throughout the world. Richemont DNS intends to operate the .IWC registry under a suitable license from IWC and on IWC’s behalf.

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Richemont DNS will be the operator of the .IWC registry and is the Richemont DNS entity in the ICANN process. The Richemont DNS Domain Name Management team will be responsible for the development, maintenance and enforcement of the Richemont DNS Domain Management Policy. This policy will define the rules associated with eligibility and domain name allocation, will set out the license terms governing the use of a .IWC domain name and will describe the dispute resolution policies for the IWC gTLD. This policy is intended to be updated and revised regularly to reflect IWC’s commercial and strategic interests and, where appropriate, ICANN consensus policies as they develop. Registration of a .IWC domain name will be undertaken in four steps: Eligibility Confirmation, Naming Convention Check, Acceptable Use Review, and finally Registration. All domains in the .IWC registry will remain the property of Richemont."