Swiss luxury goods company Richemont (CFR.VTX) saw its sales grow 9% in the last five months, falling short of estimates, Reuters reported. Although the group’s American jewelry business performed quite well, the demand for its watches is lukewarm in mainland China. “Asia-Pacific was led by good growth in Hong Kong and Macau, offset by lower sales in mainland China,” the maker of Cartier jewellery and Piaget watches said Thursday. Cartier is by far Richemont’s biggest jewelry brand but it also makes watches, which are included in the jewelry business unit and have recently been quite weak.
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