Wednesday, March 22, 2023

Luxury group Richemont remains on course for growth

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Richemont’s headquarters in Bellevue GE.

The main growth drivers were the markets in the USA, Europe and Japan. In the important Chinese business, on the other hand, the measures taken to combat the corona pandemic were still dampening business.

Group sales climbed in the third quarter of the 2022/23 financial year, from October to December, by 8 percent to 5.40 billion euros, as the group with luxury brands such as Cartier, Piaget and IWC announced on Wednesday. Adjusted for currency effects, growth was 5 percent. The online subsidiary YNAP, which was sold to the British online retailer Farfetch, is no longer included in the sales figures.

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