Europe markets close higher; Richemont up 16% on quarterly results, boosting luxury sector
Luxury sector bellwether Richemont jumped 16% after reporting a better-than-expected 10% increase in fiscal third-quarter sales, while France's LVMH, Kering and Christian Dior all rising. Retailers Moncler, Burberry, Swatch and Hermes also crowded around the top of the Stoxx index.
In the coming year Mandarin Oriental is taking over two beloved and successful luxury hotels in Europe: the Conservatorium in Amsterdam, and Hôtel Lutetia in Paris. It’s a bold move.
Cartier owner Richemont on Thursday reported a 10% increase in third quarter sales even as China demand weighed.
For the past couple of years, the luxury retail sector has been mired by a slowdown in sales and consumer and economic woes ...
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