.piaget

Status:	Delegated
Registry Provider:	Neustar
Type:	Brand TLD
Priority #:	1561 - Richemont DNS Inc.
More information:

.piaget is a Brand TLD being proposed in ICANN's New gTLD Program. The registry and manager is Richemont DNS Inc. The proposed application succeeded and was delegated to the Root Zone on 16 March, 2015.

Application Details

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

"Piaget, Branch of Richemont International SA (“Piaget”) is a Swiss luxury watchmaker and jeweler, founded in 1874 by Georges Piaget in the village of La Côte-aux-Fées. Originally founded as a manufacturer of watch movements, Piaget began marketing its own line of prestigious watches in the 20th century. It is now well known for its ladies and solid gold dress watches.

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. Piaget, through its various divisions, operates through more than 720 points of sale for watches and accessories, including over 70 boutiques, in 93 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. PIAGET is a registered trademark in jurisdictions throughout the world. Richemont DNS intends to operate the .Piaget registry under a suitable license from Piaget and on Piaget’s behalf.

The .Piaget registry will be a standard, i.e. not a community-based, restricted registry."