THE GHOST TRAIN
THE FINANCE GHOST: When you’ve got 99 problems but money ain’t one
In the luxury market, it’s all about getting the trends right and maintaining highly desirable brands
21 July 2022 - 05:00
Over the past twelve months, R100 invested in Richemont would now be worth, well, slightly more than R100. The net outcome may sound boring, but there’s been plenty of volatility along the way. The current share price is R170, with a 52-week high of R250.44 and a 52-week low of R147.34. There’s a lot of action in that range.
In the year to date, Richemont has dropped more than 28% as valuations cooled off globally. The underlying business hasn’t cooled off, though — the latest quarterly sales update is telling a great story...
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