Loading...
See More

Richemont up as Swatch keeps target

Jul 18 2012 10:54 Reuters

Company Data

COMPAGNIE FINANCIERE RICHEMONT SA [JSE:CFR]

Last traded 105
Change 1
% Change 1
Cumulative volume 3296568
Market cap 0

Last Updated: 21-04-2015 at 05:05. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Richemont appoints new Cartier head

Richemont first-half sales jump 29%

Asian luxury demand lifts Richemont sales

Richemont jumps on sales update

Swiss franc to hammer Richemont profits

SA stocks up as Richemont glitters

 

Johannesburg - Shares of luxury goods maker Richemont [JSE:CFR] rose after Swiss watchmaker Swatch maintains 2012 sales target despite concerns about cooling Chinese demand.

At 08:20 GMT, Richemont top gainer among Johannesburg blue chips, adding over 3% to R43.65. Its gains were in tandem with those of Swatch in Switzerland.

Swatch's chief executive Nick Hayek backed his 2012 sales target of 8 billion Swiss francs ($8.1bn) and downplayed concern Chinese demand for luxury watches may be cooling in a newspaper interview published late on Tuesday.

Worries persist that Chinese demand for the highest-priced segment of luxury goods, such as watches, will hit Swatch and rival Richemont.

 
richemont

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

The driverless luxury car of the future!

Watch this video of the Mercedes Benz F 015 concept car, the company’s vision of a driverless future.

 
 

Luxury living

WATCH: Private luxury island for sale!
10 of the most ridiculous celebrity purchases, that cost millions!
Karl Lagerfeld spotted with custom gold Apple Watch
The most luxurious dog house!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What brand of smartphone has been stolen from you?

Previous results · Suggest a vote

Loading...