Richemont reported sales of 19.95 billion euros, bolstered by double-digit gains in all product categories, and strong growth across all regions.
trumpeted “excellent results for the financial year, with all business areas generating higher sales and profits. The group has drawn on the strength of its maisons and the resilience of luxury consumers in an environment characterized by geopolitical volatility, economic uncertainty and high inflation.”
During a call with analysts later on Friday morning Rupert spoke at length about the impact of interest rate rises on the U.S. economy and consumer sentiment. Although Richemont’s sales in the Americas region grew by 27 percent at actual rates and by 14 percent at constant exchange in fiscal 2023, Rupert said there will be a slowdown in growth this year.
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