The jewelry and clock concentration of Richemont
In the important Asian market, there is also stabilization after the company – like many other luxury companies – had felt a consumption in China in the recent past.
From April to June, Richemont increased sales by 3 percent to 5.41 billion euros compared to the same period last year. The company thus reached roughly the medium -sized market expectation. A plus of 6 percent is adjusted for currency effects, as the company continued on Wednesday.
The jewelry area increased by 7 percent to 3.9 billion euros. The watch business, on the other hand, decreased by 10 percent to 824 million euros.
Overall, Richemont speaks of double -digit growth in Europe, America as well as the Middle East and Africa. In the Asia-Pacific area, there were stable sales during constant exchange rates, while Japan was below the high comparative figures of the same period last year.
All in all, the proceeds would have been a little above the consensus estimate, expert Piral Dadhania from the Canadian Bank RBC Capital wrote in a first reaction. The main reason for this was the strong dynamic in the jewelry area. Richemont’s share price increased by almost one percent until late in the morning.