Richemont's U.S. Business Outlook Post-Election

ZURICH (Reuters) – Richemont's U.S. business is well-positioned for growth now that the uncertainty surrounding the presidential election has passed, according to Chief Financial Officer Burkhard Grund.

Grund stated it is too soon to determine how president-elect Donald Trump's policies may impact demand for jewellery and watches in the long term, following Richemont's latest results report.

"We've been quite resilient in that volatile environment pre-election, which gives us a good basis for continued growth after the elections," Grund mentioned, emphasizing that any long-term effects from Trump's victory remain speculative.

With the election behind, the company anticipates a strong performance during the Christmas season, which typically yields good sales. Grund highlighted that Richemont's jewellery, fashion, and accessories sectors in the U.S., particularly among American travelers, have been growing consistently.

The company will keep an eye on any potential tariff increases proposed by Trump, although specifics remain unclear. "It is not the first time that tariffs or import duties have been on our agenda," Grund noted, adding that while tariffs have generally trended downward in the past 10 to 15 years, this is not always the case.