Let me present you the March 2013 – March 2014 Richemont results. Despite economical headwinds all I can state is: Chapeau!
This is 1:1 what Compagnie Financière Richemont SA sent me today.
There is one remark I want to make: This will be the very last time we know exactly how Montblanc preforms. Why? This was the only Richemont-brand being listed alone. From now on things will change, since “with effect from 1 April 2014, Montblanc Maison will be reported within the ‘Other’ segment”.
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The most interesting take-away for me is the 17 months of inventory on hand. A significant market downturn may have a decidedly negative impact (increasing inventory).