Richemont , the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with end-of-year sales that exceeded expectations, sending shares higher across the sector.

Richemont reported better-than-expected sales, up 10% compared with the prior-year period, in the midst of a downward trend in demand for luxury goods that is weighing on most high-end brands.

Cartier owner Richemont on Thursday reported a 10% increase in third quarter sales even as China demand weighed.

Richemont owns Cartier and Van Cleef & Arpels, two sought-after jewellery brands. This segment, known as hard luxury, often does better in times of uncertainty.

Cartier owner Richemont on Thursday reported a 10% increase in third quarter sales even as China demand weighed.

The struggling European luxury-goods sector roared to life Thursday after Richemont reported its highest-ever quarterly sales as it blew by analyst estimates.

The performance lifted shares of Richemont and boosted other luxury groups optimism the worst may be over for the industry

Cartier owner Richemont reported record quarterly sales on Thursday, beating expectations as a slump in key market China was offset by robust demand in other regions. The group said sales reached €6.2 billion ($6.

Richemont reported better-than-expected sales, up 10% compared with the prior-year period, in the midst of a downward trend in demand for luxury goods that is weighing on most high-end brands.

Richemont, the owner of Cartier jewellery, beat market expectations for third-quarter sales on Thursday, fuelling hopes that the luxury sector could be coming out of its recent downturn. The Swiss company's sales jumped 10% year-on-year to 6.