Richemont demonstrates sustained resilience
Richemont operating profit down by 17% in 1H FY25 Recently, Richemont reported for the 1H (six-month period ended 30 September 2024) and the report say, Richemont demonstrates sustained resilience FY25. According to the Interim Results & Group highlights said, Sales at € 10.1 billion and operating profit from continuing operations at € 2.2 billion in a challenging macroeconomic and geopolitical context, supported by ongoing investment into distribution and manufacturing assets. In a Strategic developments Richemont highlight, 1: Completion of the acquisition of distinctive Italian jewellery Maison Vhernier, 2: Signature of an agreement by which Mytheresa will acquire YNAP in exchange for a 33% equity stake in Mytheresa, subject to customary closing conditions, 3: Strengthened governance with the appointment of new Group CEO; new leadership in place at Cartier and Van Cleef & Arpels. At the Financial highlights Richemont reported, ...