Richemont outstripped expectations with a 10 percent jump in revenue during the key holiday quarter, offering hope that luxury's slump might be coming to an end.

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 for its fiscal third quarter, in the midst of a downward trend in demand for luxury goods that is weighing on most high-end brands.