News 
The luxury group’s third quarter for the financial year 2020/2021 ended December 31st showed a 1% increase in sales at actual exchange rates (5% at constant exchange rates) compared with the same period last year.
Strong sales in Asia-Pacific (1,729 million, +21% at actual exchange rates), the Middle East and Africa (299 million, +20%) offset declines in the Americas (841 million, -4%), Japan (335 million, -2%) and a marked contraction in Europe (-22%).
A double-digit increase in online retail sales (841 million, +13% at actual exchange rates) and a single-digit progression in retail sales (2,288 million, +3%) compensated lower wholesale sales (1,057 million, -12%).
The Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels Buccellati performed well (2,366 million, +9% at actual exchange rates), while the watch brands Buccellati A Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin – showed a slight decline (758 million, -7%) Meanwhile online distributors – Yoox Net-A-Porter Group and Watchfinder & Co – remained stable
(668 million, 0%). The group’s other Maisons – Alaïa, AZ Factory, Chloé, dunhill, Montblanc, Peter Millar, Purdey and Serapian – posted a 16% drop in turnover (436 million).
Group sales over the nine-month period to December decreased by 16% at actual exchange rates (-14% at constant rates).
February 04, 2021