Richemont’s jewels overcome slower watches dasha_reuters
Luxury goods company Richemont on July 18 said sales in the quarter to June 30 rose 9% year-on-year at constant exchange rates to 3.7 billion euros. Excluding online channels such as Yoox Net-A-Porter, sales at the 40 billion euro company, which makes Cartier watches and jewellery, would have been up 3% at constant exchange rates.
Also excluding online distributors, sales expanded in the Asia-Pacific region and Japan, showed modest growth in the Americas, and contracted in Europe as well as in the Middle East and Africa. Revenue in Hong Kong fell, hit by the relative strength of the Hong Kong dollar and the recent street protests.
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