Swiss owner of Cartier watches doubles its dividend after booming demand for jewelry from super-rich clients boosts earnings
Boost: Richemont is the newest luxurious retailer to report a robust efficiency
The Swiss owner of Cartier watches has doubled its dividend after booming demand for jewelry from super-rich clients boosted earnings.
Richemont is the newest luxurious retailer to report a robust efficiency regardless of the closure of retailers and cancellation of worldwide journey.
Fashion leaders declare it displays a ‘roaring twenties’ of massive spending on showy kinds to exit in after a year of austere dwelling.
Strong demand from China and the US is predicted to be matched by Europe when extra nations emerge from lockdowns.
Chairman Johann Rupert stated: ‘The development is continuous. We’re optimistic.’
Profits rose 38 per cent to £1.1billion within the year to March, beating expectations and enabling bosses to pro- pose a dividend of 157p-per-share for the year.
Although group gross sales fell 5 per cent to £11.3billion, gross sales of jewelry manufacturers Cartier and Van Cleef & Arpels jumped 62 per cent leap within the closing quarter.