Luxury conglomerate Compagnie Financière Richemont (XSWX:CFR, Financial) benefitted from renewed demand for its range of high-end watch and jewelry brands, including Cartier, Jaeger-LeCoultre and IWC Schaffhausen. Richemont is well capitalized and has been improving its margins steadily. Its most-recent earnings report demonstrated the benefits of its strong presence in the Chinese luxury segment, a market it seeks to further penetrate through a newly announced digital partnership with Alibaba and Farfetch.
From First Eagle Investment (Trades, Portfolio)'s Global Value Team's fourth-quarter 2020 commentary.
