Richemont Q3 Sales Rise 16%

Swiss luxury goods company Compagnie Financiere Richemont AG, enjoyed a strong finish to their third quarter sales as strong Christmas demand boosted their sales 16 percent at current exchange rates and 13 percent at constant exchange rates.

Richemont, the world's second-largest luxury goods group, whose 17 brands include Cartier, Van Cleef & Arpels and Vacheron Constantin, said in a statement that "all business areas performed strongly, benefiting from the generally favorable worldwide economic environment and strong demand for the Maisons products."

The company reported that sales in Japan increased by 14 percent, while overall Asian sales rose 26 percent, as did revenues from the Americas.

Current exchange rate sales of Richemont's jewelry brands rose 15 percent; watches 19 percent; writing instruments, including MontBlanc, increased 18 percent; while leather goods, such as Lancel and Dunhill, rose 13 percent.

Sales at other Richemont businesses increased 22 percent, while sales at the fashion house 'Chloe' doubled in the third quarter.