News With a turnover of 3,717 million euros during its 2004-2005 financial year (ending in March), luxury group Richemont saw its sales increase by 10% compared to the previous financial year. At constant exchange rates, the rate of growth was 13%.
In terms of markets, Japan brought up the rear with an increase of 3% to 642 million euros. Next came the American continent (+7% to 702 million) and Europe (+10% to 1,607 million), while the Asia-Pacific region led the way with an increase in sales of 20% to 766 million. The French and Italian markets in particular performed well, while the Middle East and Russia showed promising development.
By sector of activity of the Geneva based group, companies specialising in jewellery (Cartier and Van Cleef & Arpels) saw sales climb by 8% to 1,956 million euros (+11% at constant exchange rates), while watch manufacturers (Baume & Mercier, IWC, Jaeger-LeCoultre, A. Lange & Söhne, Panerai, Piaget and Vacheron Constantin) recorded growth of 13% to 885 million (+16% at constant exchange rates). Manufacturers of writing instruments (Montblanc and Montegrappa) registered an increase of 10% to 427 million (+13% at constant exchange rates), and firms active in leather goods and home accessories posted an increase of 3% to 265 million (+5% at constant exchange rates). Lastly, the "other activities" category increased by 31% to 184 million euros, reflecting in the main good sales by Chloé (women’s fashion).
May 04, 2005
