Editor’s Note
Richemont, the luxury group behind Cartier and Van Cleef & Arpels, has signaled a strong holiday season with double-digit sales growth from October to December, echoing its robust performance a year ago.
With its shifted fiscal year and a third quarter ending on December 31, Richemont is the first luxury group to provide indications for the crucial holiday period. A year ago, the owner of Cartier and Van Cleef & Arpels revealed that Christmas sales had been very strong in the United States. This Thursday, it sends the same signal with double-digit growth from October to December.
The group, owner of Cartier and Van Cleef & Arpels, reports double-digit progress for the third quarter of its shifted fiscal year, at constant exchange rates. However, the depreciation of the dollar, the renminbi, and the yen weighs heavily.
The quarter shows an 11% increase in sales at constant exchange rates, with peaks of 20% in the Middle East (driven by the United Arab Emirates), 17% in Japan thanks to local clientele and Chinese tourists who have not completely disappeared, and 14% in the Americas region. Europe progresses by 8%, driven by the United Kingdom and Italy.
Over the first nine months of the year, sales for the owner of Cartier have increased by 10% at constant exchange rates.