Luxury brands fashion good results as demand surges to pre-Covid levels

2022-01-20 08:26:00 AM

Prada, Richemont and Burberry are among brands raking in dosh as cooped-up consumers spoil themselves

Prada, Richemont and Burberry are among brands raking in dosh as cooped-up consumers spoil themselves

Prada, Richemont and Burberry are among brands raking in dosh as cooped-up consumers spoil themselves

ByReuters and BloombergPrada sales bounced back sharply in 2021, while Richemont had its fastest holiday-season sales growth in at least a decade and Burberry forecast 35% earnings growth this year as pent-up demand for luxury handbags and clothes helped push revenues above pre-pandemic levels.

These are the latest signs the luxury goods market is thriving again...This article is reserved for Sunday Times subscribers.A subscription gives you full digital access to all Sunday Times content.Already subscribed? Simply sign in below.

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Richemont records over 30% sales growth in three months to DecemberJSE-listed Richemont reported that it has exceeded pre-pandemic sales levels across all its operating regions after posting a 32% jump in sales – at constant exchange rates – for the three months ended 31 December 2021 Moneyweb CompanyNews Matshoba_A

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Richemont’s sales jump a third over festive periodSales rose 35% at actual exchange rates in the three months to end-December, with luxury goods groups benefiting from pent-up demand

Richemont’s sales jump by a third over festive periodSales rose 35% at actual exchange rates in the three months to end-December, with luxury goods groups benefiting from pent-up demand

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19 January 2022 - 20:09 By Reuters and Bloomberg Prada sales bounced back sharply in 2021, while Richemont had its fastest holiday-season sales growth in at least a decade and Burberry forecast 35% earnings growth this year as pent-up demand for luxury handbags and clothes helped push revenues above pre-pandemic levels.JSE-listed Richemont has exceeded pre-pandemic sales levels across all its operating regions for the three months ended December 31, 2021, boosted by a strong performance in its American and European businesses.We take a look at the selection process behind the Grammys.19 January 2022 - 10:44 A Cartier store is seen in Hong Kong.

These are the latest signs the luxury goods market is thriving again.. The owner of luxury jewellery brand Cartier, reported double-digit sales growth across all its regions, channels and business areas, resulting in a healthy net cash position of €4.. Jon Batiste, the jazz and R&B artist and bandleader, garnered the most nominations for this year's Grammys, with Justin Bieber, Billie Eilish and Olivia Rodrigo scooping up a few nominations as well. This article is reserved for Sunday Times subscribers.9 billion) in comparison to the € 2. A subscription gives you full digital access to all Sunday Times content. The strongest growth was generated in the Middle East and Africa, with sales up 65%, benefiting from increased domestic demand and higher tourist spend driven by Expo 2020 Dubai and the year-end holiday season.

Already subscribed? Simply sign in below. “The Americas led the growth with sales up by 55%, followed by Europe and the Middle East and Africa, where sales grew by 42% and 30%, respectively,” the group said in a Sens statement. Hosted by Trevor Noah , the show will now take place on 3 April at the MGM Grand Garden Arena in Las Vegas. Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details. . Pre-Covid-19 sales growth exceeded The group’s recovery to pre-pandemic sales levels was supported by the increase in demand for its Swiss luxury goods in the Middle East and Africa as well as higher tourism spend driven by the end of year holiday season and the Expo 2020 Dubai.