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Top related persons:
Denis Balibouse - 1 Farfetch's FTCH.N - 1 Farfetch - 1 Richemont - 1 Porter - 1 John Revill - 1 Miranda Murray - 1
Top related locs:
Bellevue Geneva Switzerland U.S YNAP Farfetch
Top related orgs:
REUTERS - 1 Rights - 1 Cartier - 1 watchmakers IWC - 1 Jaeger - 1 Thomson - 1

Search resuls for: "watchmakers IWC"


2 mentions found


☆ Richemont monitoring situation at online luxury retailer Farfetch
  + stars: | 2023-11-29 | by ( ) www.reuters.com   time to read: +1 min
The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsZURICH, Nov 29 (Reuters) - Cartier-jewellery owner Richemont (CFR.S) on Wednesday said it was "carefully monitoring" the situation after Farfetch's FTCH.N founder said he was considering taking the online luxury retailer private. Richemont, which also owns several Swiss watch brands, said it has no financial obligation to Farfetch and does not envisage lending or investing into the company. "Richemont is carefully monitoring the situation, including reviewing its options in respect of its arrangements with Farfetch, announced on 24 August 2022, which remain subject to certain terms and outstanding conditions," the company said. Richemont's brands, which also include watchmakers IWC and Jaeger-LeCoultre, have been working on transferring their online businesses to Farfetch's technology.
Persons: Denis Balibouse, Farfetch's FTCH.N, Farfetch, Richemont, Porter, John Revill, Miranda Murray Organizations: REUTERS, Rights, Cartier, watchmakers IWC, Jaeger, Thomson Locations: Bellevue, Geneva, Switzerland, U.S, YNAP, Farfetch
☆ Luxury eyes focused on China after Richemont's Q3 sales miss
  + stars: | 2023-01-18 | by ( John Revill | ) www.reuters.com   time to read: +3 min
SummarySummary Companies Q3 sales rise by 8% but miss market forecastsMainland China sales drop 24%Company says customer demand in China now picking upAll eyes on China for luxury sector, say analystsZURICH, Jan 18 (Reuters) - Cartier jewellery maker Richemont (CFR.S) missed market forecasts during its latest quarter as the resurgence of COVID-19 in China hit sales there, highlighting the country's importance for the luxury sector. Richemont, whose other brands include Swiss watchmakers IWC and Jaeger-LeCoultre, has been seeing strong sales growth in Europe, the Middle East and Japan, particularly for jewellery. But the mainland Chinese market - which accounts for about a fifth of the group's sales, according to Zuercher Kantonalbank estimates - struggled with sales down 24% in constant currency terms. The prospect of a pickup in Chinese sales meant analysts were not too worried by Richemont's quarterly miss. "The catch-up from Chinese consumers will come as strong as sales decelerated in 3Q, as they were able to save money during the lockdowns."
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