Morning Bites (part 2)

💍Richemont jewellery segment sales grew 6% YoY in 4Q23, accelerating from +1% YoY in 3Q23, according to a company press-release. Specifically, the sales growth was recorded across almost all regions, primarily driven by Japan (+8% YoY), Asia Pacific (+8% YoY) and the Americas (+3% YoY), while the slowdown in Europe (-4% YoY) was mainly due to a drop in tourist spending, Richemont explained. Although the company did not provide an outlook for 2024 sales yet, we believe that further consumer sentiment improvement in the key US and China downstream markets (~53% and 12% of the world's gem-set jewellery trade, respectively) might trigger a recovery in the stressed diamond sector

#diamonds
https://metals-wire.com/sector/Diamonds