Haute Time: The Richemont Group Boasts Impressive Q4
The Richemont Group, owner of brands such as Cartier, Jaeger-LeCoultre, Van Cleef & Arples, and Vacheron Constantin declared their financial results for Q4 on the same day they opened Salon International De La Haute Horolgie (SIHH) show in Geneva.
The Richemont Group, owner of brands such as Cartier, Jaeger-LeCoultre, Van Cleef & Arples, and Vacheron Constantin declared their financial results for Q4 on the same day they opened Salon International De La Haute Horolgie (SIHH) show in Geneva.
There was a sturdy growth in sales across the board, with America up 24% over last year with constant exchange rates, while Japanese sales increased by 10%. In its assessment of trading, Richemont summarized that sales growth in Europe, which includes the Middle East and Russia, gained from purchases made by tourists while the American region illustrated a growing demand for jewelry and watches. Richemont enjoyed a 25% jump in jewelry sales in Q4, while its expert watch making sales improved by 27%.
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