Richemont’s strong sales in mainland China offset contraction in Hong Kong, Japan
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ZURICH (Reuters) - Richemont , the world's second-biggest luxury goods group, reported on Friday a 4% rise in third quarter sales, helped by double-digit growth in China and South Korea, which offset tumbling sales in Hong Kong and Japan.Shares in the Swiss group rose more than 5% after the results as analysts were encouraged by the performance of its jewellery division and its ability to weather global challenges facing the luxury industry.Swiss watchmakers are facing a severe decline in their..