TODGF - The Coronavirus Crisis Hits The Luxury Sector But For Richemont It Could Also Create Opportunity
Compagnie Financiere Richemont SA (CFRHF;CFRUY), the Swiss luxury group controlled by the Rupert family, has been lagging behind its larger, more diversified rivals in recent years. Then came the virus. While the entire luxury sector has been hit hard, I believe that for Richemont there could also be opportunity. The company has a strong balance sheet and is a leader in luxury e-commerce. Both are very helpful in dealing with this crisis. The current situation could also offer a chance to make one or several strategic acquisitions at an attractive price