Richemont starts financial year with sales growth
Between April and June, Richemont's sales increased by 3 percent to 5.41 billion euros compared to the same period last year. This roughly met average market expectations. Adjusted for currency effects, this represents an increase of 6 percent, the company announced on Wednesday.
The jewellery division grew by 7 percent to 3.9 billion euros. The watch business, on the other hand, declined by 10 percent to 824 million euros.
Richemont reported double-digit growth in Europe, America and the Middle East and Africa. In the Asia-Pacific region, sales remained stable at constant exchange rates. Japan, however, fell short of the high comparative figures from the same period last year. This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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