×
167
Fashion Jobs
LE HUMAN RESOURCES SOLUTIONS PVT LTD
Production Manager
Permanent · Pune
FIRST MERIDIAN BUSINESS SERVICES
Head Production Manager
Permanent · Gurugram
ADECCO INDIA PRIVATE LIMITED
Sales Manager
Permanent · Mumbai
ALEMBIC PHARMACEUTICALS
Area Development Manager
Permanent · Pune
LEVI'S
Technical Product Manager
Permanent · Bengaluru
THE SEARCH HOUSE (A DIV OF JSD SEARCH HOUSE PVT. LTD.)
Manager Production-Sheet Metal (Laser /Punching/ Press Break)
Permanent · Bhiwadi
ABHAY INDUCTION TECH PVT LTD
Sales Manager
Permanent · Ahmedabad
FREELANCER PRATIK PARIKH
Opening in Leading Life Insurance Company/ Area Business Manager
Permanent · Gandhinagar
MANISHMEDI INNOVATION
Area Sales Manager
Permanent · Hyderabad
OJB HERBALS
Area Sales Manager
Permanent · Ranchi
LIVE BIOTECH PRIVATE LIMITED
Area Sales Manager, Regional Sales Manager, Zsm
Permanent · Chennai
KM ELECTRONIC CABLES PVT. LTD
Area Sales Manager - Vijayawada
Permanent · Chennai
CTA APPARELS PVT. LTD
Opening For Merchandising Manager- Noida(Garment Export)
Permanent · Noida
CTA APPARELS PVT. LTD
Opening For Merchandising Manager- Noida(Garment Export)
Permanent · Noida
STAR UNION DAI ICHI LIFE INSURANCE (SUD LIFE)
Hiring- Area Manager - Bancassurance- Kolkata Metro
Permanent · Kolkata
NIKKO & CO.
Area Sales Manager /Sales Officers(5-10 Yrs Into Fmcg)
Permanent · Karimnagar
FUTURE GENERALI
Opening For Area Manager in Bangalore With Future Generali li
Permanent · Bengaluru
INFEXN LABORATORIES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
LENSKART
Area Operations Manager
Permanent · Chennai
ADECCO INDIA PRIVATE LIMITED
Job Opening For Area Sales Manager Role For Mnc Company
Permanent · Bengaluru
DR LAL PATHLABS
Area Sales Manager -Chandigarh
Permanent · Chandigarh
JOB INDIA
Regional Manager Sales (Backend Operations)Garments - Gurgaon
Permanent · Faridabad
By
Reuters
Published
Jan 15, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Richemont third-quarter sales hit by weak watch demand in Hong Kong

By
Reuters
Published
Jan 15, 2015

ZURICH, Switzerland - Cartier owner Richemont said weak luxury watch demand in Hong Kong and Macau halted sales growth in the final quarter of 2014, echoing comments by luxury peers this week.

Swiss watchmakers are grappling with sluggish sales in mainland China, where consumers are no longer spending as much on luxury timepieces, and a downturn in Hong Kong which has been shaken by pro-democracy protests. The region accounts for about a quarter of Richemont's sales.

Photo: Cartier - Cartier


"The decline in sales by the group's specialist watchmakers reflected both caution on the part of business partners in the wholesale channel and a lower performance of some retail locations, most notably in Hong Kong and Macau," the maker of IWC and Jaeger-LeCoultre watches said in a statement on Thursday, abstaining from giving any kind of outlook.

Earlier this week, British luxury brand Burberry said a fall in sales in Hong Kong in the final quarter of 2014 could hit full-year profitability, and U.S. jeweller Tiffany also cut its profit forecast for 2014, citing a disappointing holiday shopping season and further weakness in Japan.

Sales growth was flat in constant currencies in Richemont's third quarter to Dec. 31, just below an estimate for 1 percent growth in a Reuters poll. On a reported basis, sales increased 4 percent to 3.051 billion euros ($3.59 billion).
While sales in the Asia Pacific region and at the group's watch brands declined in the quarter, Europe benefitted from a return of tourist shoppers and the Americas still reported good growth. Demand for jewellery also stayed strong, Richemont said.

"It is slightly below expectations with Europe as a positive surprise but Asia-Pacific worse than expected. The Hong Kong situation really hurts," Vontobel analyst Rene Weber said.

€1 = $1.17/£0.77

© Thomson Reuters 2022 All rights reserved.