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Crisis misses luxury groups Swiss luxury goods group Richemont is cautioning investors about its fourth quarter results – for the period from January to March.
It said that was because of the strength of the Swiss franc and comparatively high earnings from a year earlier.
The world’s second largest luxury goods group – behind French rival LVMH – enjoyed brisk sales in Asia which were up by 23 percent in the final three months of the year.
The Geneva-based company’s shares retreated from recent gains.
The luxury goods industry has recovered strongly from its worst slump in decades thanks to buoyant demand in Asia, particularly China.
More about: Asia, China, LuxuryCopyright © 2012 euronews
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