Richemont sales of luxury watches and jewelry nearly halved in the past quarter compared to the same period last year. The Swiss company previously warned that the corona crisis would have a huge impact.

The corona pandemic affected different regions to different degrees in the past quarter, and Richemont sees this reflected in the sales figures. For example, sales in Europe fell by 59 percent and in North and South America by 61 percent. China is an exception because sales figures almost doubled there. Relatively more products were also sold via the internet.

The turnover in the past quarter came to just under 2 billion euros. That was a shrinkage of 47 percent compared to the same period last year.

The Swiss Richemont is known for jewelry brand Cartier and watch and pen maker Montblanc.

Load More Related Articles
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

UBS/Credit Suisse merger creates a ‘gigabank’, which poses enormous risks

The merger bank created after the acquisition of Credit Suisse by UBS is too big for Switz…