Cartier-owner Richemont misses sales targets as China demand stalls
Orientul Mijlociu
Luxury group’s jewellery brands, its biggest division housing Cartier and Van Cleef & Arpels, show resilience. Swiss luxury group Richemont’s sales dipped in the three months to September with the owner of Cartier becoming the latest in the sector to report slower than expected revenues as Chinese demand stalls. Sales at Richemont fell 1 per cent on a comparable basis to €4.8 billion (US$5.14 billion; S$6.84 billion) in the three months to Sep 30, underperforming Visible Alpha consensus
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