After a series of layoffs, digital transformation and product innovation measures, Richemont, which owns a number of luxury brands such as Cartier and Van Cleef & Arpels, recovered fully in the first half of September 30. During the Reporting Period, Group sales rose 10% YoY to EUR6.61 billion and net profit soared 80% to EUR974 million, both exceeding analysts’ expectations. Of these, strong growth was recorded in Cartier, Van Cleef & Arpels, Dunhill and Lancel, while sales in the Asia Pacific region reversed their downward trend in the same period of last year with a 23% increase.
In the first half of October 28 in the fiscal first half, SuperDry sales rose 20.4% year on year to 402 million pounds, the group’s total sales rose 25.8% year on year to 756 million pounds. Retail sales increased 12.8% YoY to 243 million pound, of which e-commerce sales rose 31.6% YoY, up 6.3% YoY in sales and wholesale channels increased 34.1% YoY to 159mn pound. The group said that the launch of new products and the significant growth of e-commerce business are the key reasons for Superdry’s huge sales growth in the first half of the fiscal year. As of September this year, the brand has sales outlets in 863 stores and counters in 62 countries around the world.
According to a Reuters report, British luxury brand Burberry said in a statement on Friday that Belgian billionaire Alberto Lre, an independent director of LVMH, has increased his stake from 4% to 6%. Led by Marco Gobbetti, the new CEO, Burberry just announced a day earlier to raise its profile as a top luxury brand, with creative director Christopher Bailey leaving. Berenberg analysts said Albert Frere’s move to buy more shares is positive. Another analyst said in a report that the news will give investors some confidence and, despite short-term downside risks to earnings, the company is on the right path to long-term success.