Revenue across the company’s various jewellery brands, which include Cartier, Van Cleef & Arpels, and Buccellati, increased by 21 per cent on a year-on-year comparison for the period ending 30 June.
The report noted strong performance across all markets and seven consecutive quarters of double-digit increases. Revenue in the US increased by 25 per cent specifically, while sales in Japan spiked by 20 per cent.
The good news continued among Richemont’s watch brands, including A. Lange & Söhne, Piaget, and Vacheron Constantin, which recorded a 6 per cent increase in sales despite declining performance in China and Hong Kong.
In related news, the sale of Swiss watch brand Baume & Mercier from Richemont to Italy’s Damiani Group was recently completed. The financial terms of the sale were not disclosed. Baume & Mercier is distributed in local markets by Duraflex Group Australia.
Richemont’s overall group revenue increased by 17 per cent, reaching €6.33 billion ($AUD10.36 billion).
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