From Fortune:

Chinese lux sales bounce back: despite economic uncertainty in China, Cartier-owner Richemont reported 25% growth in Chinese sales. The company states a profit of $6.1 billion for Q3 of 2024.

But signs of industry trouble: Europe and China facing pressure from economic downturns and geopolitical tensions. LVMH and Burberry are among luxury brands reporting reduced sales, along with high-end retail brands.



Read more: Cartier-owner Richemont saw a resurgence in demand from Chinese shoppers