Richemont : A more satisfactory profile post-COVID
>We are adopting a more constructive view of the group's fundamentals, buoyed notably by Cartier's reach - While the stock, impacted by the overall correction that hit luxury stocks as of August, has struggled somewhat in recent weeks in relative terms and now posts a YTD performance a shade below the average we calculate for the sector (based on the EV/EBIT and P/E multiples, the discount vs LVMH is approaching -25%), the group's fundamentals as we now perceive the...Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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