Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after it reported record full-year sales even as Asia Pacific spending waned.
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Richemont Shares Surge on Record Sales Despite falling spending in Asia Pacific, shares of Swiss luxury conglomerate Richemont surged as high as 6.3% on Friday following the release of its record full-year sales. Despite a worsening outlook for luxury goods, the owner of Cartier reported that group revenues increased 3% to an all-time high of 20.6 billion euros in the year ended in March. Due to a slowdown in Asia-Pacific, revenues for the fourth quarter decreased by 1% to 4.8 billion euros ($5.21 billion).
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Richemont owner says inflation is hitting luxury demand in Europe https://lnkd.in/dDTzhY4u (full article) #Richemont #luxury #luxurygroup #luxurybrands #luxurybusiness #luxuryindustry #wealthy #rich #recession #performance Cartier IWC Schaffhausen Panerai Chloé Richemont
Richemont owner says inflation is hitting luxury demand in Europe
https://cpp-luxury.com
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Richemont has joined some of its #luxury rivals in seeing a normalisation of growth, posting #sales up 5% at constant exchange rates to €4.89 billion in the quarter ending 30 September — a strong deceleration compared with the previous quarter. By comparison, LVMH reported sales up 9 per cent for the quarter, while Kering slumped by 9 per cent year-on-year, as luxury sales finally began to reflect the realities of the macroeconomic environment. “Richemont joins the ‘moderation club’ in Q2, but with a front-row seat,” wrote Luca Solca, senior analyst at consultancy Bernstein. The Swiss #luxury group’s shares were down 7.6% in midday trading. What's next? Find out more below.
Richemont joins the luxury sales ‘moderation club’
voguebusiness.com
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Interesting, though some data on the comments don't seem to be correct to me. At least until 2022 (2023 is not yet officially concluded for many luxury listed companies): Top Groups in Luxury (revenues in bn.Euro): nr.1: LVMH: 79.2 (although "only" 48.8% on fashion and leathergoods) nr.2: Kering: 20.4 nr.3: Richemont: 19.953 (March 31st) Single luxury Brands (revenues in bn.Euro): 1. Louis Vuitton: 20 (speculation) 2. Chanel: 17.2 3. Hermes: 11.6 4. Gucci: 10.5 5. Cartier: 10 (speculation) Top profitable luxury companies (NET RECURRING OPERATING PROFIT, in % of revenues): 1. Hermes: 40.5% (!!!!) 2. Chanel: 33.5% 3. Moncler Group (incl.Stone Island): 29.7% (Ebit) 4. Kering Group: 27.4% 5. LVMH Group: 26.6% (40.6% on fashion and leathergoods) 6. Richemont Group: 19.6%
In 1987, Bernard Arnault created LVMH. In 1988, Johann Rupert created Richemont – an acquisition-driven luxury group much like LVMH, and to date, one of Arnault's largest competitors. Richemont is now the second largest luxury conglomerate and the third largest luxury company (with Hermès being the second) in the world. The group's many prestigious maisons include Cartier, Van Cleef & Arpels, Montblanc, Piaget, and Vacheron Constantin, to name a few. Since inception, Richemont has compounded its topline at 5% per year. But looking instead at the last 15 years, the group has grown its revenue and FCF at a 6% and 9% CAGR respectively. We have just created this infographic, mapping out every acquisition since Richemont's inception:
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Fascinating to learn how luxury brands and luxury groups grow!
In 1987, Bernard Arnault created LVMH. In 1988, Johann Rupert created Richemont – an acquisition-driven luxury group much like LVMH, and to date, one of Arnault's largest competitors. Richemont is now the second largest luxury conglomerate and the third largest luxury company (with Hermès being the second) in the world. The group's many prestigious maisons include Cartier, Van Cleef & Arpels, Montblanc, Piaget, and Vacheron Constantin, to name a few. Since inception, Richemont has compounded its topline at 5% per year. But looking instead at the last 15 years, the group has grown its revenue and FCF at a 6% and 9% CAGR respectively. We have just created this infographic, mapping out every acquisition since Richemont's inception:
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Senior Principal Consultant - Retail Operations - Luxury, Fashion & Apparel, FMCG and Big Box Retail
Richemont, the Switzerland-based luxury goods giant, has announced impressive record sales and significant leadership changes. Key highlights include: 📈 Record Sales: Achieving €20.6 billion, a 3% increase (8% at constant exchange rates), with operating profit up 13% to €4.8 billion. 🌏 Regional Growth: Asia Pacific and Japan led the growth, with the Americas slightly ahead of Europe. The US is now Richemont’s largest individual market. 💎 Jewellery Segment: The jewellery segment, featuring brands like Cartier and Van Cleef & Arpels, soared to €14 billion in sales, a 12% rise at constant exchange rates. ⌚ Watch Segment: Specialist watchmakers saw a modest 2% increase, reaching €3.8 billion. 🤝 Strategic Acquisitions: Richemont acquired 70% of Gianvito Rossi and announced the acquisition of Vhernier. 👥 Leadership Changes: Nicolas Bos steps up as CEO of Richemont, effective June 1. Bram Schot becomes executive deputy chairman, and Jérôme Lambert continues as COO. Richemont’s robust performance and strategic leadership moves are setting the stage for continued growth and innovation in the luxury sector. #richemont #luxurybrand #businessgrowth #jewellery #watches
Richemont posts record sales, appoints new CEO
https://insideretail.com.au
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A great #chart by Quartr about #swiss luxury giant Richemont In 1987, Bernard Arnault created $LVMH. In 1988, Johann Rupert created #richemont $CFR.SW – an acquisition-driven luxury group much like LVMH, and to date, one of Arnault's largest competitors. Richemont is now the second largest luxury conglomerate and the third largest #luxury company (with $RMS being the second) in the world. The group's many prestigious maisons include Cartier, Van Cleef & Arpels, Montblanc, Piaget, and Vacheron Constantin, to name a few. Since inception, Richemont has compounded its top line at 5% per year. Looking instead at the last 15 years, the group has grown its revenue and FCF at a 6% and 9% CAGR respectively. Quartr just created this infographic, mapping out every acquisition since Richemont's inception.
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Exclusive Swiss retailer and owner of Cartier watches Richemont is the latest luxury large cap to feel the pinch of the diamond-encrusted jewel-buying elite. In a trading statement released on Monday, the Zurich-listed company saw a dramatic slowdown in Europe when comparing year-on-year performance. Whereas last-year’s sales growth gained 43%, this year saw only 10% in growth at actual rates. Things were worse in the Americas, where sales entered negative growth of -4% compared to 41% of positive growth the year before. Japanese sales growth fell from 75% to just 6%, while the Middle East and Africa fell from 18% to 12%. Asia Pacific was the one regional outlier, having witnessed 32% sales growth year on year. More at #Proactive #ProactiveInvestors #Richemont #Cartier http://ow.ly/H7lH104OqXS
Cartier-owner Richemont feels the pinch of American luxury buyers
proactiveinvestors.co.uk
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Helping brands speak to luxury customers | Host of The Luxury Item podcast | Adjunct professor in luxury marketing at NYU
𝗦𝗼𝗺𝗲 𝗟𝘂𝘅𝘂𝗿𝘆 𝗚𝗼𝗼𝗱𝘀 𝗛𝗮𝗱 𝗮 𝗕𝗲𝘁𝘁𝗲𝗿 𝗖𝗵𝗿𝗶𝘀𝘁𝗺𝗮𝘀 𝗧𝗵𝗮𝗻 𝗢𝘁𝗵𝗲𝗿𝘀 "The difference between Richemont and Watches of Switzerland may be partly down to what they sell and where. The U.S. was a bright spot for both companies in the crucial holiday shopping season. American shoppers who spent overseas in cities like Paris and Milan last year are buying luxury goods at home instead. But Watches of Switzerland’s domestic U.K. market, which still generates around half of its sales, is in a slump. Richemont’s European business was also weak in the quarter." https://lnkd.in/eNtTsKvX
Some Luxury Goods Had a Better Christmas Than Others
wsj.com
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