Richemont Q3 sales beat forecasts as China recovers

Luxury group Richemont, owner of Cartier and Van Cleef & Arpels, reported an 11% rise in third-quarter sales, beating expectations as jewellery demand remained strong and China’s market improved.

From September to December, sales reached €6.40 billion ($7.45 billion), above analysts’ forecast of €6.28 billion. Jewellery led growth with a 14% increase, while watch brands like IWC and Jaeger-LeCoultre rose 7%, News.Az reports, citing Reuters.

Sales in Asia, excluding Japan, grew 6%, with China, Hong Kong, and Macau up 2%, signaling a recovery in the region. Other strong markets included South Korea and Australia.

 

News.Az