
Shares in Switzerland's Richemont surged on Tuesday, October 21st as markets welcomed the group's first trading day as a pure luxury play following the spin off of its stake in British American Tobacco.
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Shares in Switzerland's Richemont surged on Tuesday, October 21st as markets welcomed the group's first trading day as a pure luxury play following the spin off of its stake in British American Tobacco.
Switzerland's Richemont is well placed to cope with difficult trading conditions thanks to its presence in emerging markets, such as China, the luxury goods group's chairman said on Thursday.
The emerging markets miracle will not be enough to prevent 2008 from being the year the Swiss watchmaking industry will suffer its first significant slowdown in half a decade. And 2009 is not looking any better.
Richemont, the world's second-biggest luxury products company, on Thursday May 20th posted an 18-percent rise in full-year net profit, and said it would separate its luxury business from the rest of its operations.
Luxury watch brand Vacheron Constantin said Wednesday April 10th it had turned to security features more commonly used in bank notes and passports in its fight against counterfeiting.