• Yellow Vest Protests, Sluggish Watch Sales Dent Richemont's Q3 Growth

    5 monthes ago - By WWD

    LONDON - France has been counting the cost of the “gilets jaunes” protests and now the big luxury groups have begun assessing the damage as well.
    Cartier parent Compagnie Financiere Richemont saw organic growth slow in the crucial pre-holiday third quarter, with sales climbing 6 percent at actual rates and 5 percent at constant ones.
    That compares with the first half of the 2018-19 year, when sales rose 6 percent at actual exchange rates and 8 percent at constant ones. Neither set of figures includes Yoox Net-a-porter Group and Watchfinder, which Richemont acquired last year.
    In the three...
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