News In the third quarter of its 2013/2014 financial year (October - December), the luxury group Richemont recorded a 3% increase in turnover to 2.94 billion Euros (+9% at constant exchange rates).
Sales by the group’s jewellers (Cartier and Van Cleef & Arpels) were up 3% to 1.52 billion (+10% at constant exchange rates), while watch manufacturers (Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne, Roger Dubuis and Ralph Lauren) rose 4% to 817 million Euros (+9%). The writing instruments specialist Montblanc however saw its turnover decline 4% to 219 million (+1%).
All regions contributed to this growth, except Japan (-13%, to 245 million Euros). Europe registered a 7% increase in sales to 1.085 billion, Asia-Pacific +1% to 1.131 billion and America +6% to 480 million.
The group did not release a forecast but emphasized nonetheless that strengthening of the euro against the yen and the dollar would have a negative effect on sales.
February 06, 2014
