Richemont, President Of Luxury Group, Cancels The Sale Plan

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P Rupert > a href= "http://sjfzxm.com/news/index_f.asp" > Richemont group /a /a president and largest shareholder, Johann Rupert said it would cancel all sales plans and restructure Lancel, Alfred Dunhill, and other brands.

Mr. Johann Rupert reiterated his long-term plan for the group and hoped for the long-term development of the group.

Mr. Johann Rupert said, "maybe we will criticize us for not selling these loss brands, but for us, brand loyalty is particularly important. I have confidence in all brands, and I have no intention of selling in the short term."

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Gary Saage, chief financial officer of P Richemont group, said that the future group will increase investment in these soft a href= "http://sjfzxm.com/news/index_f.asp" luxury brand /a, the main way to increase retail outlets and sales outlets.

In May, Dunhill appointed Fabrizio Cardinali as brand CEO, hoping to improve the management of the brand in an all-round way through changing management level.

Gary Saage shows that Richemont is 100% loyalty to all its brands. It will do its best to improve the situation of loss brands and increase investment.

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< p > many industry analysts say that the decision of Mr. Johann Rupert may bring negative effects, and investors may not be able to see short-term benefits.

In the first half of this year, the revenue rose 4.3% to 5 billion 320 million euros, while sales of "a href=" http://sjfzxm.com/news/index_s.asp "jewelry" /a and watches showed a sharp upward trend.

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< p > < strong > Richemont group net profit increased 10% in the first half of the year < /strong > /p >

< p > the world's second largest luxury magnate, Switzerland's < a href= "http://sjfzxm.com/news/index_s.asp >" peak group "/a (Richemont) recently announced that the turnover of the first half year of the non natural accounting year has slowed down, and the group is cautious about its performance in the second half of the year.

The main rival of LVMH is France's group.

The group also pointed out that it had ended its business adjustment and had no intention to sell its brand at present or for the foreseeable future.

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P group chief financial officer pointed out in a conference call that the group wanted to retain Lancel brand.

Gary Saage told reporters that "it is more meaningful to retain it". He also stressed that the group would "keep its promise to all its brands" and "be sure to carry them forward".

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< p > Langer is famous for its French special actress, a href= "http://sjfzxm.com/news/index_h.asp" and "Brigitte Bardot" /a.

Rumors about brands have been mixed up recently.

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In the first half of September, the net market registered an increase of 10% to 1 billion 180 million euros in the first half of September. The growth rate was at the low value level of the previous analyst's forecast interval (11.5 to 1 billion 220 million euros). P

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< p > but the most disappointing is its operating earnings, down 1% to 1 billion 300 million euros, which is mainly affected by the negative factors of exchange rate.

Hedging tools help to reduce net profit.

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Sales increased by 4% to 5 billion 300 million euros, which mainly benefited from the sharp rise in the European market. P

The group continued to benefit from tourists' purchases, and in the United States, the local revenue increased by 17%.

In the Asia Pacific market (excluding Japan), revenue grew by 4%, of which Hongkong and Macao recorded growth, but fell in mainland China.

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< p > Group owns Cartire, Van Cleef & Arpels (Van Cleef & Arpels) and other brands.

In terms of specific businesses, the revenue of group jewelry companies increased by 2% to 2 billion 600 million euros.

The growth rate of a href= "http://sjfzxm.com/news/index_h.asp" > clock brand "/a" was the strongest and sales increased by 9% to 1 billion 500 million euros, which mainly benefited from high-end watch business.

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MontBlanc (P), known for its high-end pens, recorded a decline of 3% to 358 million euros (Montblanc).

Sales of Chlo Dunhill and Dunhill fashion brands also declined, but no specific data were disclosed.

Facing the "economic downturn", the group is cautious in the second half of the year, and the expected exchange rate risk will cause some pressure on the company's performance.

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In the first half of October, the sales volume recorded an increase of 10% in the first quarter of October.

The group points out that the high-end jewelry business in the Asia Pacific region has a good sales performance.

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< p > > a href= "http://sjfzxm.com/news/index_h.asp" > Citigroup "/a" economic analyst Thomas Chauvet said, "poor performance", but he also pointed out that these data were related to the slowdown in the entire luxury industry, and the performance of the whole industry in the third quarter was not satisfactory.

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"P >" he maintains the company's purchase rating and believes that the outlook for the group is "positive", but at the same time points out that the review of its business adjustment is "surprising" and may be considered a "negative" factor.

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