Richemont sales on the rise

Swiss luxury goods group Compagnie Fianciere Richemont SA reported a rise in sales of 12 percent last year to €4.83 billion. Preliminary results for the year ended 31 March showed that demand had been strong in every geographic region, with the exception of Japan . The group - which owns brands like Cartier, Alfred Dunhill, Chloé, Piaget and Montblanc – said fluctuating exchange rates, and a relative weak dollar and yen had affected sales. Had exchange rates been constant, total sales would have risen 16 percent and all product categories would have showed double-digit sales growth.

As it stands, Richemont's star brand Cartier reported double-digit growth in every region except Japan , where growth was much lower. For Dunhill, Japanese sales remained flat, while it enjoyed double-digit growth everywhere else. Van Cleef & Arpels are also said to have performed very well, as did Lancel and Chloé. The latter achieved growth of 50 percent, thanks mostly to a bigger retail network.

European sales, which account for 42 percent of total group sales, gained 13 percent, thanks partly to the strength of Montblanc – which launched special centenary products - Panerai and A. Lange & Sohne. The Asia-Pacific region grew 24 percent at constant exchange rates, 19 percent at actual rates. “Excellent demand” was felt in all business areas and growth was driven by the development of Dunhill and Montblanc's retail networks in China . Sales in the Americas grew 12 percent at actual rates, 18 percent at constant rates. Only Japan , which accounts for 15 percent of total sales, slowed down due to the weakness of the yen, with growth at actual rates down to only 1 percent.

Group retail sales grew 14 percent to €2 billion, while wholesale sales rose 11 percent, both at actual rates. Full sales and profit results will be released on 24 May. In the meantime, the company will not comment on preliminary figures.