Richemont Looks Well Positioned in Polarized Luxury Sector
Dow Jones09-01 16:58
0858 GMT - Richemont is benefiting from strong structural tailwinds at a time when the luxury industry remains polarized, analysts at Bernstein say in a note. Jewelry remains one of the most attractive categories in luxury, partly due to its superior growth and pricing power, they say. The Swiss company is leveraging its exposure to this category with its core Cartier and Van Cleef & Arpels brands, they add. "We believe investors continue to underestimate the extent to which Richemont is structurally advantaged relative to the broader luxury sector." The company has resumed portfolio discipline and become increasingly concentrated on its jewelry unit, the analysts write. Shares are down 1%.
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