- 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)