This week luxury conglomerate Richemont posted their year-end financial results showing that the group’s watchmaking division is stronger than ever. The specialist watchmakers’ division posted an 18% increase in sales, reflecting growing worldwide interest in haute horlogerie.
The Compagnie Financière Richemont SA owns several luxury watch manufactures, including Vacheron Constantin, Baume & Mercier, Jaeger-LeCoultre, Lange & Söhne, Cartier, Officine Panerai, IWC, Piaget, Van Cleef & Arpels, Montblanc and Roger Dubuis. Overall, the brands brought in €2,752,000 (US$3,527,513) in the year ending March 31, 2013. That number is up from €2,323,000 ($2,977,621) the year before. Sales in the Asia Pacific region were the strongest overall, with Hong Kong and mainland China comprising the two largest markets.
Johann Rupert, the Chairman of Richemont, told us; “The Jewellery Maisons and the Specialist Watchmakers have reported remarkable growth in sales and profits, despite the continuing strength of the Swiss franc and historically high cost of precious metals and stones.”
Pictured above is the IWC headquarters, viewed from the Rhine. Photo credit: PHOTOPRESS/Jonas Kuhn/IWC.