Richemont Announces New Leadership as Q4 Sales Show Mixed Results

Richemont, the renowned luxury goods conglomerate, reported a mixed performance in its fiscal fourth quarter, with a slight 1% decline in sales at actual rates and a 2% rise at constant exchange rates. Over the full year, sales grew 3% to €20.62 billion, and operating profit saw an increase of 13% at constant rates. Amidst these financial fluctuations, Nicolas Bos was appointed as the new CEO. The company's jewelry maisons, particularly Cartier and Van Cleef & Arpels, remained strong, driving much of the growth, while the watch division faced challenges from a strong Swiss franc and decreased demand.

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