Richemont Sales Up; Jewelry Surges 14 Percent

Switzerland-based luxury goods group Richemont reported Wednesday that overall sales for the company rose 16 percent in the fiscal year ending March 31. Total group sales amounted to €4.827 billion ($6.554  billion).

Sales by the group’s jewelry ‘maisons’, rose to €2.435 billion ($3.306 billion), up 14 percent from the same period last year (at constant exchange rates).

Cartier reported double-digit growth at constant exchange rates in all regions with the exception of Japan, which saw modest growth. Van Cleef & Arpels also enjoyed very good growth in sales, said the company. Products linked to the Maison’s centenary in 2006 and related communications activity contributed to the strong performance.

Richemont also reported strong sales in Europe, with 42 percent of total group sales. The company said specialty watchmaker Montblanc performed “very well” over the course of the year.

Sales in Asia-Pacific grew 24 percent, attributed to “excellent demand” and Montblanc and Alfred Dunhill’s development of their own retail distribution networks in China. Double digit growth was also reported in the Americas, while in Japan, the trend was more muted primarily due to the weakness of the Yen, says the company.