Luxury goods group Richemont shrugged off pressure from Bluebell Capital as shareholders voted down the activist investor's board candidate at the annual general meeting (AGM) on Wednesday.

A majority of the Cartier maker's shareholders rejected Bluebell's candidate Francesco Trapani, a former executive of rival LVMH, to represent holders of publicly traded A shares on the group's board and instead opted for current board member Wendy Luhabe.