Double-digit growth
Buoyed by jewellery but also by the recovery of its watchmaking activity, Richemont has posted a particularly solid first quarter. The Swiss group saw its sales rise by 17%, to 6.3 billion euros, with growth across all of its regions. Revenue came in ahead of market expectations.
Jewellery in the driving seat
The performance confirms the leading role of jewellery, driven notably by Cartier. In a broadly cautious luxury market, the hard luxury segment is demonstrating its resilience, supported by a clientele in search of value, rarity and permanence.
An encouraging signal for the sector
These results offer a positive signal to the wider industry. They suggest that houses capable of combining heritage, savoir-faire and desirability continue to appeal, even in an uncertain economic climate. A confirmation that excellence remains the best defence against turbulence.
Source: journalduluxe.fr
