Richemont lifted as super-rich carry on spending

Click to follow
The Independent Online

Expensive watches and jewellery such as the $20,000 (£13,000) Altiplano watch have helped the

Swiss luxury goods group Richemont bring in sales of €2.6bn (£2.2bn) in the last quarter.

The luxury goods sector remains one of the strongest globally as the super wealthy keep spending in the face of wider economic turmoil.

Sales for the three months to the end of December were up by 24 per cent from €2.11bn on a year earlier, beating analysts' expectations.

Johann Rupert, the executive chairman and group chief executive officer, said: "The group's overall performance remains solid. Operating profit for the full year will be significantly higher than last year."

Comments