Richemont Reports 12% Annual Sales Increase

Sales at luxury goods group Compagnie Financière Richemont SA increased 12 percent for the fiscal year to 4.83 billion euros ($6.2 billion), when compared to the previous fiscal year.

The London-based company said there was strong demand in every geographic region except Japan. It also said sales growth for the year, which ended March 31, was dented only by exchange rate conversions, and the relative weakness of the dollar and yen.

Of the Group’s Jewelry houses, Cartier reported double-digit growth at constant rates in all regions with the exception of Japan, which saw modest growth, the company said. Van Cleef & Arpel also reported very good growth in sales.

Its specialist watchmaker business reported high levels of demand in all regions, generating double-digit sales growth for the group, the company said. Most notably, sales of both Panerai and A. Lange & Söhne grew strongly during the year

The company, whose jewelry and watch brand portfolio includes Cartier, Van Cleef & Arpels, Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne. The company’s portfolio also includes brands such as Alfred Dunhill, Chloé, and Montblanc.

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