At its general meeting held on 10 September, the luxury products group Richemont announced an increase in sales of 11% for the first five months of the current financial year from April to August (+18% at constant exchange rates). At the end of the first quarter, these two figures were 13 and 20% respectively.

The highest rate of growth (+13%) was recorded by the jewellery sector (Cartier and Van Cleef & Arpels), while the group’s watch manufacturers registered growth of 12%, the acquisition of Roger Dubuis having had a slight influence on this rate. Sales of Montblanc products for their part rose by only 2%, while those in the leather goods and accessories sector even fell by 5% as a result of a difficult market environment. Other business, including Chloé, registered growth of 24%, mainly due to acquisitions.

By regions, Europe rose by 17% and Asia-Pacific by 10%. In Japan however sales fell by 8%. In the United States, due to the effect of the dollar exchange rate, business remained stable, while in local currencies sales increased by 14%.

Source: Federation of the Swiss Watch Industry FH website