It’s not exactly breaking news that 2016 is a tough year so far for the Swiss watch industry. Consumer brands are hurting for sure but luxury brands are having an even harder go of things. Today, Compagnie Financière Richemont SA (better known simply as Richemont), hosted its annual general meeting and announced sales numbers for the first five months of its fiscal year (May-August). Overall, results are what you’d expect, with sales down due to a number of factors. But looking closely at the reports, there are a few details worthy of comment.
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