Activist investor Third Point builds stake in Richemont - report - NewsBreak

ZURICH, Nov 8 (Reuters) - Activist hedge fund Third Point has built a stake in luxury goods group Richemont, online news platform Miss Tweed and the Financial Times reported. Third Point, controlled by billionaire investor Daniel Loeb, and U.S.-based fund Artisan Partners, which has a 1.2% stake in Richemont, are pressing the owner of jewellery brand Cartier to improve its performance, the media reports said, citing sources familiar with the matter.