Sales drop of 8,9 percent for Qatari owned Le Tanneur & Cie
Qatar Luxury Group, an entity directly controlled by First Lady Sheikha Mozah of Qatar, experienced a decline of 8.1% of sales in the third quarter ended September 31. Despite the fall in sales in Q3, the group remains confident that it would catch up by the end of the year, thanks for holiday sales.
Sales at its directly operated stores increased 3.2% increase, however, all other channels (wholesale, department stores etc) Le Tanneur & Cie registered a decline of 16.7% in sales. In terms of organization, the company sold its Belgian division to its subsidiary Qatari The Tanner International, operating the two stores in Brussels.