ZURICH (Reuters) – Richemont (SIX:)’s U.S. enterprise may get a lift now that pre-election uncertainty following this week’s presidential ballot is out of the best way, though it’s too early to say how doable tariff hikes beneath Donald Trump would have an effect on the posh firm.
Chief Monetary Officer Burkhart Grund mentioned on Friday that Richemont had historically executed nicely after elections, no matter which candidate or get together had received.
Richemont’s jewelry and vogue and equipment enterprise in the USA and amongst American prospects who journey has been rising “fairly constantly,” he advised reporters after Richemont’s newest outcomes, with watches additionally growing gross sales.
“We have been fairly resilient in that risky surroundings pre-election, which provides us a great foundation for continued development after the elections,” Grund mentioned, including that any long term results from Trump’s win have been “pure hypothesis.”
Richemont would additionally monitor doable will increase in tariffs, which have been floated by Trump, though the state of affairs was presently unclear.
“We monitor it and we’ve situations in place, however there’s nothing extra we will say at this stage,” Grund mentioned.
“It isn’t the primary time that tariffs or import duties, these sorts of issues, are on our agenda,” Grund mentioned.
“It’s clear that over the past in all probability 10 to fifteen years, tariffs have or duties have trended down, however not all the time.”
