Don’t expect the rest of the world to recover as quickly as China, says Johann Rupert
The coronavirus pandemic ‘has had a profound impact on the lives of millions around the globe. We must hope that it is a once-in-a-lifetime event’
Johann Rupert, chair of luxury products group Richemont, says most countries won't recover as quickly as China did after the peak of coronavirus pandemic, with some likely to be in a slump for as long as three years.
Writing in the group’s annual report, released on Wednesday, billionaire Rupert said the luxury brand was seeing an uptick in sales at its 462 Chinese stores, which sell perfumes, handbags and watches.