ZURICH Jan 12 Luxury goods group Richemont
said strong demand for jewellery and an improvement in
watch sales in its own stores helped sales grow 5 percent in the
quarter to December, in a sign the luxury watch industry may see
a recovery this year.
Swiss watchmakers are grappling with weak demand in their
two biggest markets, Hong Kong and the United States, as
consumers think twice before paying sky-high prices for watches
and fewer Chinese travel and shop for fear of extremist attacks.
"The 10 percent growth in sales in the Asia Pacific region
reflected strong performances in mainland China and Korea,
mitigated by continued declines in Hong Kong and Macau," the
Geneva-based maker of IWC watches and Cartier jewellery said in
a statement on Thursday.
(Reporting by Silke Koltrowitz; Editing by Michael Shields)