JAMIE CARR: The high-end consumer is back to consuming with reckless abandon
This week’s Diamonds & Dogs column is free to read. Richemont is purring along nicely while Trans Hex is hoping for hidden gems
A jewel of a performance It is tempting to award the gong to Prince Mohammed bin Salman, the 32-year-old heir apparent to the Saudi throne and poster boy for the delights of absolute monarchy. The young thruster sent in the goon squad and arrested about 500 potentates he is accusing of embezzling around US$100bn from the state money pot. He’s frozen their assets and bunged them all into the Ritz-Carlton, where we can only hope they are ordering room service and movies rather than plotting insurrection and the resumption of the status quo. While the dream’s on hold, there’s nothing like the performance of Richemont to lift the spirits, signalling that the high-end consumer is back to consuming with what we could once term gay abandon. The company reported banging results for the six months, and particularly strong performance in the jewellery and watches segment as well as in mainland China, Hong Kong, Korea and the UK. The core business is purring along nicely, and Richemont is look...
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