<\/p>\n
<\/p>\n
Richemont<\/strong> unveils its results for the quarter ending June 30, 2022 compared to the previous year. And this year’s growth is in double digits, exceeding analysts’ estimates.<\/p>\n <\/p>\n All of the Group’s business areas, as well as most regions, generated sales growth of 12%<\/strong>, despite an uncertain environment and challenging comparisons.<\/p>\n <\/p>\n Revenue growth was driven by strong double-digit increases in Europe, the Americas and Japan.<\/strong> Sales in Europe rose 42%, supported by robust domestic demand and a return of tourist spending, mainly by American and Middle Eastern customers.<\/p>\n <\/p>\n <\/p>\n La croissance a \u00e9t\u00e9 forte sur certains march\u00e9s, particularly in France where sales grew by triple digits. In Asia-Pacific, the strict anti-covid policy and confinements led to a double-digit decline in sales in mainland China.<\/strong> Strong momentum in most other Asian markets, including Australia, Singapore, South Korea and Thailand, partially mitigated the decline in sales in the region, with Asia Pacific sales down 15% overall.<\/p>\n <\/p>\n In the Americas, sales increased by 25% and the United States was Richemont’s largest market during the quarter, accounting for 22% of Group sales.<\/strong><\/p>\n <\/p>\n Japan posted the best regional performance with sales growth of 83%, supported by strong local demand.<\/strong> Sales in the Middle East and Africa rose 6%, reflecting strong domestic and tourism spending, particularly in Dubai and Qatar.<\/p>\n <\/p>\n <\/p>\n Retail sales, the strongest performer, rose 18%, driven by double-digit increases in all business segments, with strong performances in Europe, the Americas and Japan.<\/strong> Online retail sales were up 5%.<\/p>\n <\/p>\n Despite the disruption in China, the group’s jewelry houses generated sales growth of 12%<\/strong>, benefiting from strong retail sales and solid jewelry and watch sales at Buccellati, Cartier and Van Cleef & Arpels<\/strong>, among others.<\/p>\n <\/p>\n Specialty watchmakers’ sales rose 10%, driven by online and offline retail sales, which together contributed 53% of the segment’s sales. Growth was achieved across most brands and regions, with continued outperformance by A. Lange & S\u00f6hne, Panerai and Vacheron Constantin.<\/strong><\/p>\n <\/p>\n Finally, the Other Group business sector, consisting mainly of Fashion and Accessories, posted the strongest increase in sales with +28%, supported by strong retail and wholesale sales<\/strong> with sustained demand in most of the Houses and regions, as the renewed creativity supported by new designers at Ala\u00efa, Chlo\u00e9 and Montblanc<\/strong> had a positive impact on sales.<\/p>\n <\/p>\n At June 30, cash and cash equivalents amounted to 5.4 billion euros, compared with 3.6 billion euros a year earlier.<\/p>\n <\/p>\nVery strong sales growth in the Americas<\/h2>\n
Double-digit growth for jewelry houses<\/h2>\n