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Cartier’s Parent Company Just Saw Its Sales Slide Amid China’s Spending Slowdown

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The luxury group, owner of Cartier and Chloe, is seeing falling sales as global demand for luxury goods comes to a halt, especially across China.

—the luxury group owner of brands such as Cartier, Dunhill, Chloe, and Roger Dubuis— reported that quarter sales ending September 30 are down 1 percent, bringing its total sales to $5.1 billion, Vogue Businessand Kering, have also revealed troubling sales figures analysts believe are due to, in part, from sluggish Chinese consumer spending.

Richemont’s extensive portfolio runs across fashion, jewelry, watches, and e-commerce, and the company’s analysis revealed that each category is faring differently in the current economic climate. The jewelry division, which includes Van Cleef & Arpels, saw sales increase 4 percent even as the watch division experienced a 19 percent drop in sales.

 

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