Cartier owner Richemont shines as luxury shrugs off gloom

Cartier owner Richemont delivered a glittering sales update yesterday.

The Swiss group’s figures are the latest indicator the luxury sector is shrugging off poor returns in China and US tariffs.

Sales for the first quarter to the end of September rose by 14 per cent to £4.6billion, Richemont – whose Cartier designs are modelled by actress Lily Collins – said. 

Stylish: Richemont’s Cartier designs are modelled by actress Lily Collins (pictured)

Chairman Johann Rupert said there were ‘some early signs’ of improving demand in China, where trading returned to growth for the first time in nearly two years. 

Sales in the Asia Pacific region, which includes China, grew 10 per cent.

Shares rose 5.9 per cent after the update, which follows positive signs from rivals such as LVMH and Hermes.

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