Cartier-owner Richemont misses sales targets as China demand stalls

Quick Summary:

Luxury group’s jewellery brands, its biggest division housing Cartier and Van Cleef & Arpels, show resilience.

The group has gained 6 per cent so far this year as investors have bet on the ongoing strength of its jewellery brands, particularly Cartier.

Sales in Asia Pacific were down 18 per cent in the period compared with a year earlier — once again a sharper fall than expected by analysts but offset by strong growth in the Americas, Japan, the Middle East and Europe.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaJapan

Topics: Group Luxury Jewellery Cent Cleef Biggest Billion Sales Division Cartier

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 14:39:20 (5 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 687 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23509738

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Official Website: channelnewsasia.com

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