Richemont : Slower growth and margins under pressure but Jewellery Maisons still a major strength going forward
>Reduced growth in Q4 and margins still under pressure in H2, this scenario remains on the cards but is unsurprising - The group will present its full-year results to end-March 2024 in May. As usual, it has not commented on the trends in Q4 but limited itself to an assessment of the broadly tough macroeconomic context and particularly the demanding comps in Q4 relative to last year (Jewellery Maisons in Q4 of the year to end-March 2023 came in at +27% y-o-y). ...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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