1343 GMT - Richemont appears to be resilient amid the current luxury slowdown, helped by its jewelry segment with strong brands like Cartier and Van Cleef & Arpels, AlphaValue analyst Jie Zhang writes in a note. "We believe Richemont is well-positioned to outperform its competitors," she says. The Swiss jeweler and watchmaker looks set to benefit from growth trends in the luxury jewelry market over the long term, she adds. However, the analyst remains cautious in the near term due to limited visibility in the Chinese market and the slowdown in global luxury demand, particularly for watches. Shares are up 0.1% at 138.60 Swiss francs. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 08:44 ET (13:44 GMT)
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