Richemont | Building Digital IQ in tough times
Richemont (JSE: CFR) continues to focus on transforming the Group to adapt to changes in consumer behaviour, adopting digital and ensuring the long-term sustainability of its brands. The dilutive impact of this strategy was again reflected in H1'20 results. Investments in Cartier, the optimisation of the wholesale channel and digital strategy (YNAP/Watchfinder) negatively affected profitability. We believe the Group requires further investment in digital platforms of its brands, geographical expansion of YNAP and its own retail network which is a multi-year investment strategy. Further, a slowdown in demand in retail sales, disruption from Hong Kong and a highly promotional online environment will result in a reduction in net cash and further margin dilution over the short-term.
Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.
Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.
Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.