Richemont Sales Surge Driven by Cartier and Van Cleef

Richemont announced a strong sales increase, boosted by the performance of Cartier and Van Cleef & Arpels. Strong demand for luxury jewelry and early signs of recovery in China led to double-digit growth.

In the third quarter of its fiscal year, Richemont recorded an 11% sales increase, with turnover reaching €6.4 billion. Jewelry sales rose by 14%, reaching €4.78 billion.

Sales in Asia (excluding Japan) increased by 6%, with China, Macau, and Hong Kong showing a 2% increase. The United States, the Middle East, Africa, and Japan also showed double-digit growth rates.

In the watchmaking sector, Richemont recorded a 7% sales increase. Fashion and accessories activities remained at the same level as last year.

Free cash flow decreased to €1.1 billion, while the share price fell by 1.9%.

Source: ot.gr