Richemont’s revenue up +7% in Q3

Worldwide
Published:  17 January, 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.

Source: Reuters

comments powered by Disqus