Reported 17 days ago
Cartier owner Richemont experienced a 1% decrease in quarterly sales to 4.81 billion euros, largely due to an 18% decline in the Asia Pacific region, attributed to economic challenges in China. However, growth in markets such as the Americas and Japan helped offset losses. Despite the downturn, Richemont's jewellery sales grew by 4%, indicating resilience in its business strategy, although the watches sector faced a significant 19% decrease.
Source: YAHOO