The Richemont Group, owner of brands such as Cartier, Jaeger-LeCoultre, Van Cleef & Arples, and Vacheron Constantin declared their financial results for Q4 on the same day they opened Salon International De La Haute Horolgie (SIHH) show in Geneva.
There was a sturdy growth in sales across the board, with America up 24% over last year with constant exchange rates, while Japanese sales increased by 10%. In its assessment of trading, Richemont summarized that sales growth in Europe, which includes the Middle East and Russia, gained from purchases made by tourists while the American region illustrated a growing demand for jewelry and watches. Richemont enjoyed a 25% jump in jewelry sales in Q4, while its expert watch making sales improved by 27%.
The group stated that its retail sales increase is reflective of the impact of the continuing boutique network expansion program, mainly in the Asia-Pacific region, as well as demand for jewelry.