Richemont’s fourth quarter Asian sales slump due to Covid-19
The group reported that sales in Hong Kong fell by two thirds in its fourth quarter as coronavirus shuttered stores
15 May 2020 - 08:28
Global luxury goods retailer Richemont says Covid-19 has had a severe effect on sales in the past three months of its year to end-March, with sales in Hong Kong falling by more than two thirds.
The Swiss-based high-end retailer led by Johann Rupert reported a hit to sales across its global operations, but said it had seen a resumption in demand in China, the first to be hit from the pandemic, and first to start recovering. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.