Richemont, the maker of Cartier jewelry and Jaeger LeCoultre watches, said its first- quarter sales were boosted by a strong rebound in Asia
reported a 14% increase in first- quarter sales on Monday, boosted by a strong rebound in Asia and demand for its high-end jewellery.
But the Americas, where concerns have risen in recent months about a slowdown in luxury demand in the United States, saw sales fall 4%, said the company, which also owns several high-end watch brands.Visitors look at models on the IWC booth during the Watches and Wonders fair in Geneva, Switzerland March 27, 2023. REUTERS/Denis Balibouse
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Breakingviews - Luxury tests limits of its immunity to downturnsCompagnie Financiere Richemont is testing the limits of luxury’s immunity to downturns. The $93 billion Swiss luxury conglomerate dropped 10% on Monday after it reported a 2% year-on-year drop in U.S. revenue in the three months to June. Shares of other big luxury players, including $236 billion Hermes International and $502 billion LVMH , also fell 4.2% and 3.7% respectively.
Lire la suite »
European shares slip as Richemont, tepid China data dragEuropean shares fell on Monday as luxury group Richemont slumped on weaker-than-expected organic sales growth and lacklustre economic growth in China raised concerns about demand from the world's second-biggest economy.
Lire la suite »
Richemont Sales Climb 14% in Q1 as Chinese Demand FlourishesRichemont saw sales in the first fiscal quarter surge 14 percent to 5.32 billion euros, fueled by a strong rebound among Chinese tourists and locals, the luxury giant said in a trading update on Monday.
Lire la suite »
First Mover Americas: BNB Is Being Heavily ShortedTraders in the perpetual futures market tied to the $BNB token are leaning bearish as the embattled cryptocurrency faces a challenging environment on multiple fronts. LedesmaLyllah and godbole17 report in First Mover Americas
Lire la suite »
Florida luxury cars parked by valet stand stolen in broad daylight: VideoPolice are looking for suspects after luxury cars parked at unattended valet stands in Tampa, Florida, were stolen. Police said the thefts are part of an increasing trend.
Lire la suite »
Why it costs $1 million to maintain celebrity luxury estatesLuxury homes like Beyoncé and Jay-Z's Malibu estate take a staff of up to 50 to maintain — and could cost owners $1 million a year
Lire la suite »