Richemont luxury sales up in Q3

27 Jan '06

3 min read

Leading luxury goods player Richemont announces that its sales in the quarter ended 31 December 2005 increased by 16 per cent at actual exchange rates compared to the prior year. At constant exchange rates, sales increased by 13 per cent.

All business areas performed strongly, benefiting from the generally favourable worldwide economic environment and strong demand for the Maisons' products. The continued strength of the dollar, particularly when compared to the same period in 2004, has contributed to the high level of growth at actual exchange rates. Despite more demanding comparative figures, the rate of growth in underlying sales increased over the three-month period, with sales in December growing by 21 per cent at actual rates.

Cartier sales benefited from new product launches – notably the Caresse d'Orchidées high jewellery line – and the publicity surrounding two important events during the period. Cartier opened a major new flagship store at Aoyama in Tokyo and re-opened what has been its historic Parisian home since 1899 at 13 rue de la Paix after a major refurbishment, which lasted 14 months. Van Cleef & Arpels experienced strong growth, in part generated by the new Pierres de Caractère high jewellery collection, which was launched in selected markets during December.

The Group's specialist watchmakers all enjoyed good sales with Vacheron Constantin, Officine Panerai, and IWC reporting particularly good results during the quarter. Vacheron Constantin benefited significantly from sales linked to its 250th anniversary celebrations in 2005.

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