Cartier owner Richemont jewelry beats expectations as glitter

By Mimosa Spencer

Paris (Reuters) -cartier owner Richemont, with a 7% increase in Friday, wealthy buyers continued to jumble from jewelry, and continued to help opponents on the luxury luxury.

Richemont, the owner of the jewelry brand Van Cleef & Arpels and Watchmaker Piaget, jumped 11% before March in the fourth quarter of jewelry. China sales are a decrease of 11% in hours, as the country accuses the appetite for luxury shopping as a real estate crisis.

Swiss-based Richemont’s total sales in the quarter are 5.17 billion euros ($ 5.80 billion), the 7% increase in permanent currencies, the 6% increase forecast for the visible alpha consensus specified by the HSBC increased by 7%.

Strong jewelry sales were “sufficient” to replace the weakness in hours, “he said.

Richemont shares increased by 5% in Friday morning.

For an extremely richer customer, the analysts are more convenient than other luxury groups that rely on fashion sales by analysts.

“Richemont continued to earn a significant market in the field of jewelry,” said Vontobel analyst Jean-Philippe Bertschy, division of 36% in section in 2019.

Bertschy, especially Richemont’s jewelry labels, said that Richemont, who is “unbearable”, said that the opponent said that he was “unbearable”, he said.

Luxury groups have started in the United States, the Sector of the Sector of the Sector in the United States has begun years, but from mid-February, the US economy and tariff ads in April brought further uncertainty.

Richemont shares have been 18% since the beginning of the year, and Hermes of Hermes, which are Ultra rich recipients, are 14%. LVMH and Gucci-owner Kering is 20% and 25% less than respectively.

The price increases prices in the increase in prices during the increase in the price of the required pandemic, the price that increases the prices of those who follow the prices in the United States, the princesichemont heads will review the “all different options” to reduce the impact on the strategy of maintaining the same level.

“Richemont Board Chairman Johann Rupert will arrange to call journalists.