Bryan Garnier - Richemont (CFR) Richemont benefiting from rising demand for jewellery

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Bryan Garnier

Loic Morvan

Richemont benefiting from rising demand for jewellery

We lift our FY24 and FY25 estimates by 11% to reflect i/ the strong FY23 performance, and ii/ higher growth prospects for FY24 with 1) a gradual recovery in luxury spending by Chinese clientele as they travel outside of Asia, and 2) the superior brand desirability of Richemont's Jewellery Maisons (

15/05/2023 1 EN

Underlying

Richemont

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Loic Morvan

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Richemont benefiting from rising demand for jewellery

Disappointing H1 profitability

Luxury Goods: beware of excessive optimism on China in the near term

Richemont to face margin pressure as watch sales decline in H1 2025

Cinclus: agreement with the FDA on the iPSP

BICO: divests Nanoscribe for EUR26m in line with BICO 2.0 Strategy

Exclusive Networks: expanding into the US with Cloudrise acquisition

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