Richemont’s Watch Brands Increase Sales by 18 %

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.

Adrienne Faurote

Editor in Chief · Haute Time

As a former New Yorker, now a “Miamian,” Adrienne Faurote joined Haute Living in August of 2021. She currently serves as the Haute Media Group Editor-in-Chief, overseeing all editorial platforms within the Haute Media Group while also maintaining her role as Fashion, Jewelry & Watch Director. Prior to her position at Haute Living, Faurote was the Market Editor at Marie Claire Magazine US, amassing over ten years in the industry, becoming an authoritative voice in all things fashion, jewelry, and watches.