Luxury sector in “privileged position”, Richemont chairman says

15/05/2020

Luxury group Richemont has reported full-year sales of just over €14.2 billion for the period ending March 31, an increase of 2% year on year.

The group pointed out that it was only in the fourth quarter of its business year that it began to feel the effects of the covid-19 crisis; in that final quarter, its sales declined by 18% and in key markets in Asia, its revenues declined by much more.