| Updated:
RICHEMONT BOSS SLAMS EUROPE AS ASIA BOOMS
EUROPE risks becoming little more than a tourist attraction for wealthy Chinese if it does not reform, the head of luxury goods group Richemont said yesterday as booming Asian demand helped offset weakness in Europe. “A few years ago, I said if people do not watch it Europe will become an open-air museum for travelling Chinese. Well, we are halfway there,” said Johann Rupert, as net profit for the year to 31 March rose 43 per cent to €1.54bn.