Saturday, December 10, 2011

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By Haitang Yu on January 30, 2011

Richemont Expects Greater Demand on Luxury Goods Richemont, the second biggest luxury goods group, reached impressive results for the latest financial year that ended in March. cheap replica watches The company forecasts increasing demand for luxurious watches, jewelery and clothing. Although the global watch market presently witnesses a great abundance of products that leads to capacity constraints at some watch brands, Richemont feels really optimistic about the year ahead. Richemont has enjoyed a business year of considerable growth concerning both sales and profitability.

The company's success was supported by a positive economic background in the majority of the main markets where its luxury goods businesses operate. Breitling Bentley replica Net profit for the latest business year serve as a riliable proof of the good results reached by the luxury businesses and the strong performance of Richemont's tobacco interests. According to Richemont executive chairman Johann Rupert, demand for luxury goods has been continuously rising in already well-established markets of Europe and the US, as well as new regions such as India and China. Mr Rupert, whose family holds a controlling share in Richemont, Franck Muller watches has noticed that the global luxury goods market is quickly expanding, while the company's businesses are introduced into new markets. At present moment Rupert is concerned whether the company's supply chain is able to meet the existing demand for certain watch models. The weakness of the yen and the dollar, two major currencies for Richemont, is one more important issue which may affect future performance.

The Swiss group, prominent for its Cartier jewelry and timepieces and Montblanc pens,cartier love bracelet replica real gold, IWC Portuguese replica experienced a 21 per cent jump in net profits that reached E 1.33bn (that is $1.79bn). This is a much higher increase than Richemont initially expected. Operating profits bought by the luxury goods business,cartier love bracelet rose gold price, without dividends from Richemont's 19 per cent stake in British American Tobacco, grew 24 per cent to reach E 916m. Richemont marked the latest business year with remarkably strong performance. The company reported a 14 per cent growth in the dividend. This number includes rises in the ordinary dividend and special dividend paid. Richemont sales grew by 12 per cent and reached E 4.83bn. Panerai Radiomir replica Richemont's cash pile increased by E 257m to E 1.14bn at the end of March.

The cash of the Swiss group has steadily grown, having passed a difficult patch earlier this decade. Now Richemont is considered to become a potential buyer of independent brands. Richemont executives are determined to keep to their conservative approach. They have focused their attention on organic growth, Zenith replica watches especially if to take into consideration high estimations for independent luxury goods labels.

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