Richemont warns of slowing China demand

LUXURY goods group Richemont, which owns brands including Montblanc and Net-a-Porter, saw sales growth in Asia slow to four per cent in the five months to 31 August compared with 12 per cent a year ago, dragged down by weak demand for watches in mainland China. Overall sales were up nine per cent, helped by 17 per cent growth in Japan and the Americas.