Richemont Jewelry Sales +25%

(IDEX Online News) – Luxury firm Richemont saw sales in the December ending quarter increased by 24 percent to €2.62 billion ($3.31 billion). The company on Monday reported double-digit growth in all regions and channels.

Jewelry sales in the three-month period jumped 25 percent to €1.36 billion ($1.72 billion). Jewelry is Richemont's biggest business area.

Watch sales by Richemont increased 28 percent to €697 million ($881.2 million).

Reflecting the different regional economic conditions, sales in the Asia-Pacific region had the fastest year-over-year growth, rising 36 percent to €1.05 billion ($1.33 billion). It was followed by the Americas, up 23 percent to €382 million ($483 million).

Sales in Europe and Japan increased 16 percent each.

The results, while very good, are a decrease in growth compared to the first six months of the fiscal year.

Compared to the first six months of the year, the decline in the sales growth rate in the Asia-Pacific region reflects demanding comparative figures and a general convergence towards more sustainable, long-term growth rates.

According to Group Chief Executive Johann Rupert, the slowdown in sales growth reflects a combination of more demanding comparative figures as well as the volatile and challenging economic environment. Sales in the month of December were 21 percent above the prior period at actual and constant exchange rates."