Posts Tagged ‘ Cartier ’

Richemont Business Booms in Asia – Cartier and Piaget Growing in China

November 11, 2011
By

Piaget

 

  • Richemont SA (CFR VX) is the second largest maker of luxury goods in the world.
  • The company owns a number of luxury brands including; Cartier, Piaget, IWC, Alfred Dunhill, Van Cleef, Montblanc, Chloe, and many others
  • Richemont reported that first half net income hit plan and boosted sales assumptions for the second half of the year.
  • First half sales growth was up 29% and in the month of October, sales are up 28% – so essentially no slowdown.
  • The Asia-Pacific region was up 48% and distribution expansion related to China is driving growth
  • Cartier and Piaget have been particularly strong brands (from a growth rate standpoint)
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