Richemont Emerges as Top Pick in Vietnam Counterfeit Crackdown, With €22.4 Billion Sales Base
Updated
Updated · Simply Wall St · Jul 6
Richemont Emerges as Top Pick in Vietnam Counterfeit Crackdown, With €22.4 Billion Sales Base
1 articles · Updated · Simply Wall St · Jul 6
Summary
Simply Wall St flagged Richemont, Swatch Group and Brunello Cucinelli as likely beneficiaries of Vietnam’s tighter enforcement against fake luxury handbags, shoes and accessories.
Richemont stands out because its Cartier, Van Cleef & Arpels and watch brands are directly exposed to the categories being targeted, potentially supporting cleaner distribution channels and stronger pricing power.
The Swiss group brings €22.4 billion in revenue, double-digit forecast earnings growth, regular dividends and buybacks, though the report said its current P/E, margin pressure and reliance on external borrowing warrant caution.
Swatch, with CHF 6.3 billion in revenue, could gain from better protection for Omega and Longines, while Brunello Cucinelli’s €1.4 billion business may benefit from demand for authentic high-end fashion despite rich valuations and tariff-cost risks.
The report frames Vietnam’s crackdown as a longer-term stock catalyst that could reshape brand protection, supply-chain scrutiny and valuation assumptions across global luxury names.