Richemont 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.
The company’s other brands division, which includes Chloé, Delvaux and Dunhill, rose by 6 percent at constant exchange rates.
By contrast, sales in the Americas were down 2 percent due to lower wholesale sales in the region which has been impacted by a cost of living crisis, rising interest rates and an overall slowdown in luxury spending on the part of the aspirational consumer.In Europe, sales were up 11 percent against demanding comparatives from the prior year. Richemont said that growth came from spending by locals, and tourists from the Americas, the Middle East and, more recently, China.
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.
Mitsubishi Suspends Chinese Operations Following Sharp Fall In SalesMitsubishi has decided to end operations in the Chinese domestic market, with sales continuing to fall.
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 »
Passport woes leave travel advisors preaching cautionPassport processing delays continue to climb, leaving Americans scrambling to secure documentation for international travel.
Lire la suite »
Bugatti Bolide Storms Goodwood With Looks And Sounds Of A W16-Powered Batmobile | CarscoopsWatch the limited-production track-only hypercar from Molsheim completing its first-ever hill climb car auto cars
Lire la suite »
Survivors of West Side bike path terror attack climb mountain at Tour de FranceSurvivors and relatives of victims of terror attacks, including the 2017 truck attack on the West Side bike path, came together at the Tour de France to honor those who died.
Lire la suite »