Richemont’s Jewelry Sales €737 Million in Q1

The Richemont Group’s jewelry sales totaled €737 million ($1.173 billion) in the April-June quarter, a 25 percent increase in constant rates and 16 percent in actual rates. Overall sales by the group grew by 13 percent at actual exchange rates. Underlying sales growth in the three month period was 20 percent.

The group’s Jewellery Maisons – C artier and Van Cleef & Arpels – reported very strong growth during the quarter, the company said in a management statement. It did not provide specific figures. “With the exception of Japan, where sales saw a mid-single digit decrease, all regions reported double-digit growth at constant exchange rates,” Richemont reported.

Richemont’s seven specialist watchmakers also had strong demand in all regions except in Japan, generating €415 million ($660.7 million) in sales, a year-over-year 19 percent growth in constant rates and 13 percent in actual rates.

The Asia-Pacific region provided for the largest sales growth for the group, climbing 35 percent in constant rates to €353 million ($562 million). Europe remains the leading market with €651 million ($1.036 billion) in sales during the quarter.