LONDON — Luxury goods group Compagnie Financière Richemont felt the first big bite from the credit crunch as sales in October grew 1.6 percent overall, but dipped 2 percent at constant exchange rates. The parent of brands including Cartier, Montblanc, Chloé and Dunhill said the biggest sales declines were in America and Europe.
“In October, there was a significant change in ambiance compared with the first six months of the year, and the U.S. suffered the most,” said group finance director Richard Lepeu, during a conference call Friday to discuss the company’s six-month results to Sept. 30.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)