Editor’s Note
This article highlights how Richemont’s strong jewelry sales, particularly from its Cartier brand, fueled better-than-expected growth during the critical holiday quarter.
ZURICH, Jan 15 (Reuters) – Driven by a flourishing jewelry business, luxury goods group Richemont continued to grow in the Christmas quarter.
From October to December, sales rose by 11 percent on a currency-adjusted basis to 6.4 billion euros, the maker of Cartier jewelry announced on Thursday. According to a survey by Visible Alpha, analysts had on average expected revenues of 6.28 billion euros. The jewelry division’s sales increased by 14 percent. The Swiss company performed particularly well in the Middle East and in Japan.
(Report by Oliver Hirt and John Revill, edited by Ralf Banser.)