Richemont revenue rises 16% as Cartier jewellery demand stays strong
Richemont’s revenue rose 16 per cent to €12.3 billion in the six months to September, with strong demand for Cartier and Van Cleef & Arpels jewellery helping lift net profit almost 40 per cent.
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Richemont, the Swiss luxury group that owns Cartier, reported a 16 per cent rise in revenue to €12.3 billion for the six months to September, as demand for jewellery from Cartier and Van Cleef & Arpels remained strong. Net profit rose almost 40 per cent to €2.5 billion.
The group said jewellery was the main source of growth. Its jewellery business accounts for about three-quarters of Richemont’s activities, and sales were particularly strong among customers in the United States.
Sales fell only in the Middle East and Africa, which Richemont attributed to regional geopolitical tensions and lower spending by tourists. The results were released later than planned on Friday because of a Microsoft outage.
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