Retail in Asia

In Sectors

Richemont says the Chinese market is improving

The owner of Cartier and Montblanc, and the world’s largest jewelry maker, Richemont, announced that its first half earnings fell on stagnant demand for its products in Asia. In the six months through September, sales in China fell 4 percent, compared to a 10 percent decline last year, reports Bloomberg. Operating profit fell 4 percent to EUR1.31 billion (USD1.6 billion).

 

(Source: Red Luxury)