Overview
Compagnie Financiere Richemont SA (OTCPK:CFRHF;OTCPK:CFRUY) is the owner of premier luxury brands including Cartier, Van Cleef & Arpels, Dunhill and Chloé. In the last quarter, Richemont struggled with a severe sales slowdown due to Covid-19. However, investors should look past the recent problems.
Richemont’s luxury brands provide a sustainable moat, the balance sheet is rock solid, and the company is becoming an e-commerce powerhouse.
Recent Results
Last week, Richemont provided an update for results up to 6/30/2020. The company noted that the results reflected “unprecedented” levels of disruption and widespread