Adds element, background ZURICH, Jan 20 (Reuters) - Luxurio
Adds element, background
ZURICH, Jan 20 (Reuters) – Luxurious items group Richemont CFR.S posted a 5% improve in gross sales at fixed currencies for the three months to Dec. 31, pushed by robust development at its jewelry manufacturers in Asia Pacific and the Center East.
Gross sales of luxurious watches have contracted sharply throughout the COVID-19 pandemic, however the jewelry class led by Richemont’s Cartier model has fared higher, motivating LVMH’s LVMH.PA current acquisition of U.S. jeweller Tiffany that would change the aggressive panorama.
“The 14% gross sales development on the Jewelry Maisons was supported by good jewelry and watch gross sales at Cartier and Van Cleef & Arpels,” the group additionally recognized for IWC watches mentioned in an announcement on Wednesday. It didn’t give an outlook.
Richemont mentioned gross sales at fixed trade charges grew 5% within the firm’s third quarter, whereas gross sales at present charges rose 1% to 4.19 billion euros ($5.09 billion).
Asia Pacific and the Center East and Africa grew by a few quarter whereas Europe declined 20% and the Americas stagnated.
Gross sales of the group’s watch manufacturers fell 4%, whereas gross sales at its jewelry labels rose 14%.
($1 = 0.8235 euros)
(Reporting by Silke Koltrowitz; enhancing by Thomas Seythal and Michael Shields)
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