LONDON — Spiraling gold prices, hefty U.S. tariffs and price hikes have failed to deter luxury customers’ appetite for Richemont’s fine jewelry brands, which outstripped analysts’ expectations and notched double-digit growth in the first fiscal half ended Sept. 30.
First-half sales at Richemont ‘s jewelry division, which Jefferies described Friday as “a remarkable locomotive for growth,” rose 14 percent to 7.75 billion euros at constant exchange. In the second quarter sales were up 17 percent.
Richemont said all regions delivered double-digit growth in jewelry with the exception of Japan, which was flat.
Jefferies said Richemont is now the fastest growing luxury company, while Citi proclaimed “All that glitters is Cartier ,” in its latest report on the Swiss watch and jewelry

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