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Cartier, Van Cleef See Strong Season

Asia and the Americas stimulates third-quarter growth at Richemont's jewelry maisons.
Jan 11, 2018 3:36 AM   By Rapaport News
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RAPAPORT... Sales at Richemont’s jewelry maisons grew 5% year on year to $2.18 billion (EUR 1.83 billion) in the fiscal third quarter of 2017, which included the  holiday season.

The jewelry maisons, which include Cartier and Van Cleef & Arpels, were the company's strongest performers for the three months that ended December 31. Overall group sales advanced 1% to $3.72 billion (EUR 3.12 billion), with sales at its specialist watchmakers increasing by the same margin to $933 million (EUR 781 million), the company reported Thursday. 

Other Richemont businesses showed consistent sales, with Montblanc, Chloé and Lancel recording the highest growth, the company said. 

Retail sales rose 7%, with a double-digit increase in Asia-Pacific and a strong performance in the Americas compensating for weakness in Europe. Revenue from the company's wholesale division declined 8%.

The company's results for the current financial year will be announced on May 18.

Image: Shutterstock/Sorbis
Tags: Cartier, Chloé, Jewelry, jewelry maisons, Lancel, Montblanc, Rapaport News, Richemont, specialist watchmakers, Van Cleef
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