Richemont Reports 14% Increase in Sales

By John Jeffay / July 18, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Richemont saw its Q1 sales climb by 14 per cent overall, driven by a 19 per cent increase at its Buccellati, Cartier and Van Cleef & Arpels jewelry maisons (excluding currency movements).The Swiss luxury conglomerate said yesterday that total sales in the three months to 30 June were $5.97bn (EUR 5.32bn).Total jewelry sales were $4.04bn (EUR 3.599bn). Sales of specialist watches - A. Lange & S??hne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin - showed a more modest increase, up six per cent to $1.19bn (EUR1.061bn).Asia Pacific saw a 32 per cent spike in sales, helped by the end of Covid restrictions. Americas and Japan saw a small drop (down four and six per cent respectively).Richemont said there was double-digit increases in almost all regions, including a 40% rebound (at constant exchange rates) in Asia Pacific, the strongest regional performance.Pic shows a Buccellati store

Recent News

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com

Gold stocks down on flat metal price and mixed equities

July 01, 2024 / www.canadianminingreport.com

Snowline Gold reports Initial Resource Estimate

June 24, 2024 / www.canadianminingreport.com

Inflation subsiding and rate cuts starting internationally

June 24, 2024 / www.canadianminingreport.com

Inflation rebound continues to reverse

June 17, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok