| Richemont Sales Climb 16% as European Demand Recovers (Update2)
Sept. 14 (Bloomberg) -- Cie. Financiere Richemont AG, the world's second-largest luxury-goods maker, said five-month revenue rose 16 percent as a spending recovery in Europe helped spur sales of Cartier jewelry and Mont Blanc watches. Revenue gained 18 percent at constant exchange rates in the period ended Aug. 31, the Geneva-based company said in an e-mailed statement. Richemont, which holds its annual meeting today, provided only percentage changes for sales. The luxury-goods maker is using money raised by selling clothing brands last year to develop Cartier and premium watch brands including Jaeger-LeCoultre. It's also working to revive Dunhill, an unprofitable maker of luggage and menswear. Richemont is benefiting from revived spending on luxury products in Europe as Asian and American tourists make more purchases.
Shopping mag puts Oxford on its hot list
Lucky, the magazine about shopping, in its October issue lists them as great "under the radar" spots to shop. Five cities thriving outside the spotlight with populations of less than 100,000 were chosen. "I feel like a lot of smaller towns and cities are where the bigger things are coming out of," said Gigi Guerra, the writer who compiled the unscientific list. Beyond the expense of L.A. and New York, she said small towns are where artists can afford to live these days. She heard about William Faulkner's hometown from other writers, but it was the quaint retail square that helped her enjoy her Fourth of July weekend stay. She visited other cities between May and July, spending three to four days in each and walking away with a goody list of stores. Oxford's alphabetical list begins with Cicada, a clothing store offering abstract-print T-shirts, flirty party dresses and vintage bead necklaces.
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