26 August 2020 - 16:50A Cartier store, operated by Richemont, is illuminated at night in Shanghai, China. Picture: BLOOMBERG
Swiss watchmakers have seen sales collapse during the pandemic as the Chinese, their biggest customers, were no longer able to travel abroad to their favourite shopping destinations and stores around the world closed. “Even at this stage at the end of August, we're still not clear as to when we'll see a therapeutic or a vaccine so we still err on the side of caution in terms of cash,” he said in a call ahead of the annual general meeting due to take place in two weeks.
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