Richemont: sales pretty flat in Q1
(CercleFinance.com) - Richemont reports sales of E5.
27bn for Q1 2024-25, down 1% as reported, but up 1% at constant exchange rates, despite persistent macroeconomic and geopolitical uncertainties.
The Swiss luxury group (Cartier, Van Cleef & Arpels, Buccellati) reported growth in all regions except Asia-Pacific, as well as continued growth in direct sales to customers, particularly in the jewellery houses.
Single-digit growth in jewellery houses and the "other" business sector (which includes fashion houses and accessories) offset lower sales by specialist watchmakers, which were impacted by high exposure to Asia-Pacific.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
27bn for Q1 2024-25, down 1% as reported, but up 1% at constant exchange rates, despite persistent macroeconomic and geopolitical uncertainties.
The Swiss luxury group (Cartier, Van Cleef & Arpels, Buccellati) reported growth in all regions except Asia-Pacific, as well as continued growth in direct sales to customers, particularly in the jewellery houses.
Single-digit growth in jewellery houses and the "other" business sector (which includes fashion houses and accessories) offset lower sales by specialist watchmakers, which were impacted by high exposure to Asia-Pacific.
Copyright (c) 2024 CercleFinance.com. All rights reserved.