RICHEMONT

Finweek English Edition - - INVESTMENT -

As­set man­age­ment firm Ves­tact says that it con­tin­ues to hold shares in the global lux­ury goods gi­ant. Port­fo­lio man­ager Sasha Naryshkine points to the re­cently re­leased trad­ing up­date from the group and notes that not only are sales in the de­vel­oped world pick­ing up, but the cur­rent re­sults were neg­a­tively im­pacted by cur­rency move­ments around the euro. Naryshkine notes: “The world is chang­ing, there are more of us and we are get­ting richer. That bodes well for busi­nesses (like Richemont) that sell time­less and de­sir­able lux­ury goods.”

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