Richemont Q3 sales up 9 percent

REPORT_ For the third quarter Richemont sales increased by 9 percent at constant exchange rates.

The period’s performance reflected continuing demand for jewelry and watches, particularly through the group’s retail channel. The performance in Europe and the Middle East was satisfactory. In Asia Pacific, growth remained relatively consistent. All major markets reported growth, except for mainland China, which reported lower sales. Sales growth in the Americas region was good. Domestic purchases in Japan remained strong. Retail sales growth further improved compared to the 11 percent increase seen in the six months to September, consistently outperforming wholesale. The Jewellery Maisons reported solid sales growth in their own boutique networks. Sales of the Montblanc Maison were in line with the comparative period. In the group’s other businesses, the Net-a-Porter group continued to report growth well above the group average.

Sales growth over the nine-month period was 9 percent at constant exchange rates. Richemont owns a portfolio of leading international brands or Maisons, which are managed independently of one another. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.