Richemont Sales Hint at High-End Rebound

18 Jan, 2017
Richemont reported sales at its jewelry maisons jumped 9% to $1.86 billion (EUR 1.75 billion) in the third fiscal quarter which included the holiday season. The maisons, which comprise luxury brands Cartier and Van Cleef & Arpels, drove an overall improved performance by the group, while sales at its specialist watchmakers fell 2%. Group revenue advanced 6% to $3.29 billion, with sales in Asia-Pacific rising 10%, while the Americas grew 8% and Europe climbed 3%.