Macau shares blame as Richemont’s Q4 sales fall

15/01

Source: Macau Business

Swiss maker of watches and other luxuries Compagnie Financiere Richemont SA says the value of its sales fell to €2.9 billion (about MOP25.3 billion or US$3.16 billion) in the fourth quarter of last year, 4 per cent less than a year earlier, Reuters reports.

The news agency quotes a written statement issued by Richemont as saying its sales in Hong Kong and Macau were “significantly” lower, but that sales in mainland China continued to rise.

Richemont owns the Cartier, IWC and Jaeger-LeCoultre brands.

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