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Sales fall at Chloe

Richemont, the luxury goods group behind Chloé, saw sales rise 13% to €1.4 billion (£1.1bn) for the three months ended June 30.

However sales at Chloé were down mid-single digits during the period because of lower retail sales. However sales at the group's "other businesses" which includes the Chloé brand, rose overall by 23% to €75 million (£59.5m). This was boosted by acquisitions including the purcahse of a stake in designer womenswear label Azzedine Alaia.

Richemont's sales in Europe rose 17% to €651m (£516.4m) for the quarter.

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