Jewelry Drives Richemont's $6.1bn Revenue in Q3

By John Jeffay / January 24, 2024 / www.idexonline.com / Article Link

(IDEX Online) - Richemont saw revenue from Buccellati, Cartier, Van Cleef & Arpels and its other jewelry brands climb 12 per cent to $4.3bn (at constant exchange rates) during the last three months of 2023.Specialist watchmakers sales rose by 3 per cent, reflecting a retail outperformance, notably at A. Lange & Sohne, IWC, Jaeger-LeCoultre and Vacheron Constantin.The Swiss luxury conglomerate's fashion and accessories maisons were hit by a 1 per cent drop in revenue.Japan was the biggest single growth area, with revenue up by 18 per cent, followed by a 13 per cent increase in Asia Pacific, Richemont's largest geographic market ($2.23bn). Revenue dipped by 3 per cent in Europe.Overall growth across all sectors was 8 per cent in Q3 with total sales of $6.1bn, and 11 per cent for the nine months to the end of 2023.All distribution channels recorded sales growth, except for the online retail channel where sales fell by 5 per cent, the company said.Pic shows a Buccellati store

Recent News

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com

US a major market for Canadian mineral exports

November 11, 2024 / www.canadianminingreport.com

Gold stocks down along with broad equities decline

November 04, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok