Richemont posts higher sales

23/01/2007

Switzerland-based luxury goods company Richemont has posted a 10% rise in sales for the third quarter ended December 31, compared with the prior year quarter. Operating income rose 31% to €436 million.

In the leather and accessories sector, Alfred Dunhill reported double-digit sales growth in key Asian markets, particularly boosted by retail activities in China, although sales growth in Japan was modest. Overall sales at actual rates were in line with the prior year. Lancel posted a 3% sales increase for the quarter, while Chloe saw another dramatic sales increase of 60%.

In terms of geographic performance, the Asia Pacific region continued the strong performance shown in the first half of the year. Sales in Europe slowed, partly due to lower growth in the company’s wholesale segment. The Maisons maintained double-digit growth overall and sales in newer markets such as Russia they continued significant growth..

Sales in the Americas continued to rise at a high rate during the quarter, in line with the first six months. At actual exchange rates, sales grew 11%.

During the period, the group’s retail sales increased by 14% at actual exchange rates while wholesale sales increased by 7%.