Cartier-owner Richemont says China sales tumble 27%

By Agence France-Presse

Jul 17, 2024 12:20 am

The Swiss luxury group said overall sales dipped 1 percent to 5.27 billion euros ($5.74 billion) in its first quarter that ended June 30, with growth seen in the Americas, Japan and Europe.

But sales in the Asia-Pacific region, excluding Japan ― Richemont's top sales area ― fell by 19 percent to 1.8 billion euros, and by 27 percent in China, Hong Kong and Macao.

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