Richemont

Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.

The slim timepiece known for its trompe-l’oeil gold strip design is a watch-industry icon. Relaunching the model could help Richemont-owned Piaget jumpstart excitement around its watch division after years of leaning on jewellery to drive the brand’s image.

Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.

The Swiss luxury conglomerate reports quarterly results this week, as the failed deal to offload its struggling e-commerce unit to Farfetch looms large. That, plus what else to watch for in the coming days.

Farfetch is in discussions with a liquidity provider to secure $500 million in emergency funding, in a deal that would also take the company private and wipe out shareholders, according to a report from The Sunday Times.