Richemont sales rise

Luxury goods group Richemont has reported sales of €4.3 billion for the fiscal year ended 31 March. This signifies an increase of 17 percent for the Switzerland-based company, which saw growth across the board.

Fashion brand Chloé performed particularly well last year, with sales more than doubling. However, Chloé represents a small part of Richemont. The group's most important business is its jewellery division – which included brands such as Cartier and Van Cleef & Arpels – with combined sales of €2.2 billion. The division realized growth of 15 percent for the year.

The group's watch business, with brands like Vacheron, IWC and Panerai, saw sales increase 22 percent. The division achieved annual sales of €1 billion.

North and South America were the group's best performing regions with a growth of 26 percent. However, Europe, Japan and Asia achieved double-digit growth. Watch brands IWC and Panerai were primarily responsible for Richemont's gains.