Richemont 2006 sales boosted by Chloe's performance
25 Apr '06
3 min read
Richemont, the Swiss luxury goods group, has announced unaudited sales for the year ended 31 March 2006 of €4,308 million, an increase of 17 percent at actual exchange rates compared to the prior year. At constant exchange rates, sales increased by 16 percent.
The sales trends seen during the first six months of the year and in the pre-Christmas period continued into the fourth quarter of the financial year. Particularly strong growth was seen in the Group's specialist watchmaking division, which reported growth of 22 percent.
The Group overall benefited from good consumer demand stemming from the generally favorable economic environment seen in its principal markets. In addition, exchange rates of key currencies, notably the dollar and yen, were relatively stable against the euro for a large part of the year.
Of the Group's Jewellery Maisons, Cartier continued to perform strongly, showing particularly good growth in the Americas, Japan and in the rest of the Asia-Pacific region. Van Cleef & Arpels saw very good growth in sales, albeit from a smaller base, with a particularly strong performance in Europe.
The Group's specialist watchmakers saw a high level of demand in all regions, all reporting double-digit growth. Vacheron Constantin, IWC and Panerai, in particular, performed very well, Vacheron Constantin having benefited from sales linked to its 250th anniversary celebrations in 2005.
Sales by the Group's principal writing instrument manufacturer, Montblanc, reflected very strong demand within the Maison's own boutique network.
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