Swiss Economicblogs.org
Investec Switzerland. The crisis in the global luxury-goods industry deepened after Hermes International SCA abandoned a long-standing forecast and Richemont predicted a profit plunge that Chairman Johann Rupert deemed unacceptable. Cartier in Hong Kong © Bankoo | Dreamstime.com Richemont, the maker of Cartier jewelry, said first-half operating profit will probably decline about 45 percent and warned it may have to deepen cost cuts. Kelly bag maker Hermes, traditionally...
Read More »Richemont, Hermes slump as gloom deepens for luxury-goods makers
