Richemont shrugs off Middle East conflict fears
Richemont shrugged off a Middle East slump as stronger demand in the US and Asia lifted sales.
The Swiss group – whose Cartier jewellery is modelled by actress Lily Collins – said sales rose 13 per cent to £4.67billion in the three months to March.
Strong demand: Actress Lily Collins modelling Cartier jewellery
Middle East sales fell 3 per cent as the Iran war kept tourists away from destinations such as Dubai.
But the Americas and Asia grew 18 per cent and 14 per cent, offsetting losses, as chairman Johann Rupert said visitor numbers to the Middle East had ‘dropped to zero’ since the war began.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Freetrade
Freetrade
Investing Isa now free on basic plan
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.