ZURICH—Swiss luxury-goods makers Compagnie Financière Richemont SA and Swatch Group AG Friday said sales are beginning to rebound amid improving demand, particularly in Asian emerging markets, adding new vigor to industry hopes that well-heeled consumers may return ahead of Christmas. Their statements echo similar messages from high-end consumer goods companies including L’Oreal SA, LVMH Moët Hennessy Louis Vuitton, Bulgari SpA and Burberry Group PLC, which have either positively surprised markets or predicted an imminent end to destocking.Richemont, the Geneva-based owner of Cartier, Piaget and Montblanc luxury brands, Friday reported a 15% fall in first-half sales to €2.38 billion ($3.54 billion) as of Sept. 30. However the rate of decline slowed to 10% in October with demand in Asia, excluding Japan, even rising 11%.
By Martin Gelnar, Nov 14, 2009 WSJ

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