Compagnie Financiere Richemont SA, an international leader in luxury goods, reported last month that its luxury brands had seen an 87% escalation in its net profit during the first half of its 2010-2011 business year.

“The good performance achieved by Richemont in the first half of this year has been driven by a marked improvement in all business areas and across all geographies compared to the depressed levels seen last year,” Richemont’s chairman and chief executive stated.

The Richemont group, where Alan Quasha is a member of the Board of Directors, owns brands such as Cartier, Montblanc and Jaeger-LeCoultre. Their net profit of 644 million euros (884 million dollars), was an amount well above the predicted profit for the group.