The Latest Breaking News from Richemont

The Swiss luxury group Richemont, which owns Cartier and other jewellery brands, is regularly the subject of takeover rumours which its founder, the South African billionaire Johann Rupert, always dismisses.

Cartier-owner Richemont said Tuesday its quarterly sales in China tumbled by 27 percent as the deepening economic malaise in the world's second-largest economy lashes luxury firms.

“What we’ve observed in 2023 is a rebalancing of customer appetite," Bain expert says of the luxury industry.

Pre-owned luxury watches saw a surge in demand during COVID-19—but there's been a sharp reversal since.

Luxury giants including Richemont and LVMH are seeing a slump in sales after a high-end spending boom during the COVID-19 pandemic.

Even higher-end customers are starting to “feel the squeeze”, one commentator said

The Chloé appointment makes Kamali one of very few female designers currently leading a luxury fashion house

The luxury stock index, which includes LVMH, Ferrari and Richemont, is under pressure due to tighter consumer spending globally—especially in China.

Until two months ago, Cartier’s website showed Indigenous children playing in a field of tall, green grass

Colleagues at the luxury firm where Cheryl Spragg worked refused to get in a lift with her and she was told there was a “preference for white continental Europeans" for a job she applied for

The Federal Reserve’s hawkish stance is expected to keep the markets volatile and might significantly affect the interest-rate-sensitive tech industry. Amid the uncertain market environment, hedge funds have been selling shares of Shopify (SHOP), Nu Holdings (NU), Snap (SNAP), and Farfetch (FTCH). Given these companies' weak financials and bleak growth…