Richemont, the owner of Cartier, reported better-than-expected results for its first quarter, with sales rising by 20% to €6.33 billion ($7.24 billion) in the three months to the end of June.
Jewellery Sales Drive Growth
The company’s jewellery business, which includes Van Cleef & Arpels, Buccellati, and Vhernier, saw sales rise by 24%, much better than the 11.5% rate expected by analysts. Specialist watchmakers also increased their sales by 8% during the period.
Regionally, Richemont continued to show strong growth in the Americas and Asia regions during the April to June period. Sales in the Americas region increased by 27%, up from the 18% growth rate in the previous three months, while the Asia/Pacific sales – which include China – increased by 21% compared with a growth rate of 14% previously.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
