The Peak Group Tightens Its Belts: Executives Pay Salaries And Employees Get Frozen Wages.

The world's second largest luxury group, Compagnie Financi re Richemont SA (CFR.VX), was released last Friday after its first fall in profits in five years.

The opening dive exceeded 3%, and reported 85.95 Swiss francs a day, or 1.04%, on Monday due to public holidays.

In the 2015 fiscal year earnings conference, Johann Rupert Rupert, chairman of the Richemont SA group, said that the two categories of watches and luxury handbags are particularly vulnerable, which seems to be an excellent excuse for the decline of the group's watches and handbags in the 2015 fiscal year.

As of March 31, 2015, Richemont SA

The income of clocks and handbags decreased by 2% and 7% to 5 billion 168 million euros and 610 million euros respectively, but thanks to the weakening of the euro, the category of watches and clocks actually increased by 0.8%.

The profits of Richemont SA during the 5 fiscal year ended March 31, 2015.

From the earnings report of Richemont SA, the Johann Rupert seems to be right, but if it compares with the other two

Group Kering SA KER.PA (KER.PA) Kai Yun group and LVMH Mo t t Louis Hennessy Vuitton Vuitton (SA) MC.PA (MOET & CHANDON) Hennessy group LV group's financial data, the words are not positive or partly correct, because watches are more vulnerable than luxury handbags.

Richemont SA, the company's leather business data is ugly because fashion and leather goods are not the core business of the group, but rather the business that the group has always wanted to divestiture.

By the end of December 2014, the revenue of LVMH fashion and leather goods department increased by 10% and organic growth by 3%. In the same period, the income of luxury goods department of Kering SA group opened up 6%, and organic growth also reached 4.9%.