Richemont reported a sales revenue increase of three percent for the last quarter, reaching 5.4 billion euros. Sales gains were notable in Europe, the Americas, and the Middle East, primarily due to jewellery sales, which saw an 11 percent increase. However, this overall growth was partially offset by a four percent decline in the Asia Pacific region and significant drops in Japan and its specialist watchmakers division. Despite these challenges, the jewellery segment outperformed analyst expectations.
The company posted double-digit sales gains in Europe, the Americas and the Middle East and Africa regions, with jewellery driving the gains.
The Group's four Jewellery Maisons - Buccellati, Cartier, Van Cleef & Arpels and Vhernier -- recorded an 11 percent rise in sales, marking a third consecutive quarter of double-digit growth.
A four percent contraction in the Asia Pacific region and a 13 percent drop in Japan weighed on overall sales, as did a 10 percent drop in revenue from its specialist watchmakers division.
Overall sales rose by three percent in April through June to 5.4 billion euros, but the weakness of the dollar impacted this increase.
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