300
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
AFP
Published
Nov 10, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Luxury group Richemont sees 'exceptional' growth

By
AFP
Published
Nov 10, 2017

Richemont, the world's second-largest luxury group, said Friday it had enjoyed exceptional profit growth in the first half of its financial year as the firm moved on from a costly buyback of its high-end watches.


Ninch


In the six months to September the company's net profit soared 80 percent to 974 million euros ($1.1 billion), with sales rising 10 percent to 5.6 billion euros.

The group which includes jewellery makers Cartier and Van Cleef & Arpels had indicated to investors last month that the results would show a strong progression, as during the same period last year it carried out a costly buyback of its luxury watches from its Asian distributors who were stung by a slump in sales.

"The first half of the year's results and cash flow on a comparative basis have been exceptional, primarily due to weak results in the prior period," chief executive Johann Rupert said in a statement.

"While we cannot predict the environment for the full year, it is clear that the full year results on a comparative basis will not see the exceptional level of growth reported in the period under review," he added.

But Rupert said the results also reflected the "generally improved macro environment" and that sales still increased by 8 percent when excluding the impact of the buyback of the watches.

Sales in the Asia-Pacific region jumped 25 percent to 2.1 billion euros.

In the Americas they climbed by 10 percent to 890 million euros, driven by jewellery which benefitted from the reopening of Cartier's flagship store in New York and a Van Cleef & Arpels boutique in Miami.

Sales growth was slower in Europe at 3 percent to 1.6 billion euros, where the strong euro was felt, although in Britain growth reached into the double digits.

The group, which also owns the label Chloe, said fashion also made a modest positive contribution to sales growth.

 

Copyright © 2024 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.