Richemont : The group is not immune to the slowdown but it is currently underestimated in our view
>An unsurprisingly cautious tone, growth is decelerating for the sector as a whole including Richemont - Richemont does not provide guidance and did not give precise comments on the trend in sales for the current quarter (Q2) but pointed out that the general macroeconomic environment is becoming more challenging in all regions and that in this context it is logical at this stage to expect growth rates in luxury goods that are visibly below those well in excess of 10%...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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