A once powerful planet, it was at one point a main source of Heighliners for the Spacing Guild. The planet and it's moon, Korona, were famous for technological innovations which included Richesian mirrors and No-Ships.
Unfotunately House Richese made an ill advised decision to engage in full-scale economic warfare with House Vernius of Ix. This led to their slow demise and fostered the popular opinion that House Richese only made copies of Ixian inventions. Part of this loss is attributed to Count Ilban Richese who spent more time with his family then with his businesses.
As a result of this failure, Ix took over the lucrative Heighliner construction.
Behind the Scenes
Though the original Dune novels by Frank Herbert made a brief mention of the planet Richese, no mention was made of a House Richese ruling it. There was also no mention of a House Vernius ruling the planet Ix.