Richemont chair Johann Rupert says company has to be cautious with cash
Rupert explains halving of dividend, and flags more changes to board of directors
26 August 2020 - 16:50
Zurich — Luxury goods group Richemont must manage its cash carefully in 2020 in light of the ongoing Covid-19 pandemic, chair and controlling shareholder Johann Rupert said on Wednesday, explaining why the Cartier owner slashed its dividend proposal.
Swiss watchmakers have seen sales collapse during the pandemic as the Chinese, their biggest customers, were no longer able to travel abroad to their favourite shopping destinations and stores around the world closed...
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