03 May, 2018 -
Washington DC, U.S.
16 May, 2018 -
17 May, 2018 - 18 May, 2018
23 May, 2018 - 25 May, 2018
24 May, 2018 - 25 May, 2018
Switzerland headquartered luxury goods holding company, Richemont, posted a 7% sales increase at constant exchange rates, year-on-year, for the quarter ending December 31, 2017.
The positive results have been mainly attributed to a strong performance of Richemont’s jewellery and specialist watch brands as well as to double-digit growth in the Asia Pacific region, driven by mainland China, Korea, Hong Kong and Macau.
While sales declined 1% in Europe, an 8% growth was recorded in the Americas region, reflecting good performance from the Jewellery maisons, and sales in Japan were up +5%, supported by strong growth from the watch division and a favourable currency environment, according to the holding.
Richemont has not disclosed a breakdown of sales in other categories such as leather goods, but overall ‘Other’ sales were down -5% in the quarter. The luxury Group is said to remain committed to its Lancel and Dunhill leather goods brands, which are reported to have undergone a recent ‘intense’ restructuring. The Montblanc, Chloé and Lancel brands are said to have recorded stable sales growth in the third quarter.