0812 GMT - Given Richemont's third-quarter sales figures, one could assume that 2025 will be the turning point for the luxury sector, Vontobel analyst Jean-Philippe Bertschy says in a note. However, Chinese consumer sentiment remains depressed and the watches category is still fragile, he says. "The coming weeks will be crucial, as Richemont's competitors will publish their results." The Swiss luxury group has continued to gain market share, especially in jewelry, Bertschy says. It benefits from its iconic products that make excellent holiday gifts and new ones that have met great success, he adds. Shares are up 1% at 163.35 Swiss francs. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 17, 2025 03:12 ET (08:12 GMT)
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