Richemont, the Swiss luxury goods conglomerate, experienced a remarkable 14% surge in jewelry sales from its prestigious maisons, including Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, marking a “very solid end to the calendar year.” The group’s total sales reached a record €6.2 billion ($6.8 billion) for the quarter, a 10% year-on-year increase, with jewelry and watches accounting for nearly 90% of its revenue.
While its eight watch brands, including A. Lange & Sohne, Baume & Mercier, IWC Schaffhausen, and Jaeger-LeCoultre, showed signs of recovery after a 17% drop in Q2, they still reported a 8% decline in Q3. However, overall growth was driven by jewelry sales, bolstered by iconic jewelry and watch collections and successful new releases during the festive season.
Despite a 7% drop in sales in the Asia Pacific region, Richemont saw impressive growth in all other regions, including the Americas, Europe, Japan, and the Middle East/Africa, with sales increases ranging from 19% to 22%. Over the last nine months, Richemont’s sales totaled €16.2 billion ($17.3 billion), marking a 4% year-on-year increase at constant exchange rates.
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