Richemont reported better-than-expected quarterly sales, triggering a rally in luxury stocks, after its core jewelry division bucked a downturn in demand for high-end goods.

For the first time since the Great Recession, the luxury market has been trying to navigate one of its worst slumps. An uncertain global economy and the softening in customer spending have caused many high-end companies to suffer financially due to the continuous slowdown in sales,

Shares in European luxury companies rose after the Swiss luxury group reported sales that surpassed analysts’ projections, providing some relief at a time when the sector contends with sliding demand.

European luxury shares soared on Thursday as Cartier owner Richemont's third-quarter sales beat revived optimism for the battered sector.

European luxury stocks surged after Richemont, the company behind Cartier, Piaget and Van Cleef & Arpels, reported a "very solid end" to 2024, with quarterly sales surging to a record. Shares in Dior,

Shares of top luxury goods companies soared in European trading today, following a robust end-of-year sales report from Richemont (SIX:CFR), which owns the prestigious Cartier brand. The positive sales data has sparked optimism for a broader recovery in the luxury sector,

Richemont, the owner of Cartier jewellery, beat market expectations for third-quarter sales on Thursday, fuelling hopes that the luxury sector could be coming out of its recent downturn. The Swiss company's sales jumped 10% year-on-year to 6.