Leathergoods leave jewellery and watches in their wake
10/09/2009
Leathergoods brand Lancel has performed much better than the rest of the Richemont luxury goods group in the middle part of 2009.
Overall, the group suffered a 16% decline in sales over the period from April to August, compared to the same months in 2008. The decline at Paris-based high-end handbag brand, Lancel,was only 1%.
While this reflects the performance of other luxury goods brands, including Hermes, LVMH and PPR, whose high sales in leathergoods offset poor results in watches and jewellery. However, Lancel's contribution to the overall Richemont result is too small to make greater inroads into the overall fall in the group's sales.
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