Richemont books highest-ever quarterly sales

Richemont booked its highest-ever quarterly sales, thanks to double-digit growth in the Americas, Europe, Middle East, Africa, and Japan.

The luxury goods retailer saw sales rise 10 per cent year on year to €6.2 billion (US$6.39 billion) in the three months ended December 31.

Its Europe sales increased 19 per cent to €1.46 billion while Americas sales surged 22 per cent to €1.65 billion.

Japan sales soared 15 per cent to €592 million while Middle East and Africa sales jumped 21 per cent to €542 million.

However, Asia Pacific sales slid 7 per cent to €1.91 billion due to a combined 18 per cent decline in Mainland China, Hong Kong and Macau, largely attributed to the continued weak demand in Mainland China.

In terms of distribution channel, retail sales widened 11 per cent to €4.38 billion while online retail sales climbed 18 per cent to €419 million and wholesale and royalty income inched 4 per cent higher to €1.35 billion.

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