Business News: Richemont: Coronavirus Wiped Out $880 Million In Sales In 3 Months

Sales in the Specialist Watchmakers division, by contrast, fell 6% for the year to €2.86 billion ($3.15 billion). The division includes eight watch companies: A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin. Sales declined across most maisons, Richemont said, prompting a rueful remark by Richemont Chairman Johann Rupert in Friday’s Q&A session with financial analysts. “Up to the 15th of January this year, our watch division was really a key performer,” he noted. 

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