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The Danish brand announced Tuesday that it has dropped 116 more mostly-U.S.-based retailers from its distribution network in the Americas.
The category continues to increase in importance for the luxury goods conglomerate, which saw sales at Cartier, Van Cleef and Giampiero Bodino grow 18 percent in the first half of the year.
CEO Harvey Kanter said the company’s first standalone brick-and-mortar location is “exceeding expectations” and they plan to get additional stores open in the first half of 2016.
The company saw regional growth of just 2 percent in the five-month period ended Aug. 31, despite its jewelry maisons performing “exceptionally well.”
Though it remains unable to file complete financial statements, Lazare Kaplan International Inc. estimates a 34 percent drop in net sales for fiscal year 2015.
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