Now Reading
Piaget : Uneven sales dynamics across regions

Piaget : Uneven sales dynamics across regions

View Gallery

As a result of the health crisis, watchmaker-jewelry maker Piaget, a subsidiary of the Richemont Luxury Group, has recorded a sharp decline in net profit for its business over the 2019-2020 year. Added to this, the Geneva-based company has seen strong disparities in the performance of its business across regions.

 

In the first quarter of 2020, Piaget‘s sales fell by 18%, due to the decline in the Asia-Pacific region. Indeed, the health crisis having led to the closure of boutiques, Piaget has seen a significant drop in sales. For example, Hong Kong, the largest market for the Swiss watch industry, saw its sales fall by 67%.

See Also


 

Sales disparities by region

 

However, the progression of vaccine campaigns around the world since the end of 2020 allows the Geneva-based company to be confident for the coming months.

 

[…]

This article is reserved for subscribers.

Subscribe now !

Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

Featured photo : © GettyImages

What's Your Reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

COPYRIGHT 2021 LUXUS + ALL RIGHTS RESERVED

Scroll To Top