Richemont adds billions in value after sales set new record

Luxury goods owner’s sales hit €20.6bn in the year ended March, with US becoming its top market

17 May 2024 – 11:09

UPDATED 19 May 2024 – 17:31

Shares in luxury goods owner Richemont, which is controlled by SA’s richest person, Johann Rupert, surged more than 5% on Friday after reporting that annual group sales rose 3% to a record high of €20.6bn in the year ended March.

However, the group said sales slowed in the fourth quarter, declining 1% at actual exchange rates…

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