News

Advanced Search

Richemont Holiday Sales Hint at High-End Rebound

Jan 12, 2017 3:47 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Sales at Richemont’s jewelry maisons jumped 9 percent to $1.86 billion (EUR 1.75 billion) in the third fiscal quarter as the luxury house observed resurgent demand in the U.S. and Asia.

The jewelry maisons, which includes Cartier and Van Cleef & Arpels, saw sales at constant exchange rates rise 8 percent during the three months to December 31, which includes the holiday season, the Geneva-based luxury group reported.

Group revenue advanced 6 percent to $3.29 billion, driven by the improvement in jewelry and an uptick in retail sales at its ‘specialist watchmakers.’ Sales across all categories in the Asia-Pacific region jumped 10 percent, while the Americas grew 8 percent and Europe climbed 3 percent.

While business improved across most regions, the re-opening in September of the Cartier Mansion in New York partly drove the stronger performance in the Americas. A relaunch of the Cartier flagship store in Tokyo also helped limit the fall in Japan sales to a decline of 1 percent.

Sales at Richemont’s specialist watchmakers, a separate division that includes Baume & Mercier, Piaget and Roger Dubuis, slid 2 percent to $864.9 million. “Positive” retail growth was offset by weakness in the wholesale channel, albeit at a slower rate than previous periods, the company explained.

Image: John Wisniewski
Tags: baume & mercier, Cartier, geneva, High-end jewelry, jewelry ‘maisons, Piaget, Rapaport News, retail, Richemont, Roger Dubuis, specialist watchmakers, Van Cleef & Arpels, watches
Similar Articles
ForevermarkForevermark Optimistic About Market Recovery
May 27, 2020
Sales at Forevermark’s stores in China have recovered strongly since the peak of Covid-19, with customers returning
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.