Richemont : Momentum is still spectacular...until when?
>Q3 sales +12% above our forecasts, jewellery maisons deliver two-year growth at +57% over the quarter - Sales at Richemont continued to give a very positive surprise for Q3. Total sales came to € 5,658m, +12% above our forecast which was close to that of the consensus. Although all divisions performed better than expected (see chart with model details hereafter), the gap is rather significant for jewellery maisons at 16%. It is worth noting that growth once again ram...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).
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