Richemont predicts 40% slump in full year profits
Richemont, the Swiss luxury goods group, has predicted that its full year profits for the period ending
Richemont, whose brands range from Cartier jewellery to Jaeger-LeCoultre watches, has blamed the depressed economic climate.
The forecast is in stark contrast to its French rival LVMH, which recently reported a 29% rise in profits for 2002 and has predicted further increases for the year.
In response to the difficult trading environment, Richemont has decided to scale back its Dunhill retail operations in the
