News 
At the end of the first quarter of its 2024-2025 financial year (April to June), despite persistent macroeconomic and geopolitical uncertainties, the Group announced a sales held up well (-1% at actual exchange rates, +1% at constant rates). In all, the company recorded sales of 5.27 billion euros.
All regions delivered growth except for Asia Pacific where sales contracted by 18%, as higher sales in South Korea and Malaysia only partially mitigated a 27% decline in China, Hong Kong and Macau combined. In Europe, sales increased by 5%. In the Americas, the 10% sales progression reflected sustained domestic demand across all distribution channels. The strongest regional sales growth was once again generated in Japan, at +59%, on top of strong comparatives (+14% in the prior-year period). Sales in the Middle East & Africa rose by 8%.
The Group’s three jewellery Maisons – Buccellati, Cartier and Van Cleef & Arpels – delivered a sales growth (+2% at actual exchange rates, + 4% at constant rates), followed by the Group’s specialist watchmakers – A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin – (-14% at actual exchange rates, -13% at constant rates).
August 08, 2024