RBC Maintains Richemont Rating on 'Outperform' Amid Mixed China Demand

RBC Capital Markets has kept its 'Outperform' rating on Richemont SA, the Swiss luxury goods and sportswear conglomerate, citing differentiated opportunities across its business segments. In sportswear, Adidas is benefiting from local operations and favorable trends, while Nike remains in an early phase of transformation with lingering challenges in inventory, product development, and business model adjustments. Meanwhile, British retailer Next is expected to gain from the latest UK-Indian trade agreement. In the luxury sector, hard goods such as jewelry and high-end watches are showing resilience, supporting Richemont’s performance.