Richemont sales continue to climb in Q3

For the third quarter Richemont sales increased by 9 percent at constant exchange rates to $4 billion, with both its jewelry and watch segments enjoying similar growth. Richemont’s Jewellery Maisons sector, comprised of Cartier and Van Cleef & Arpels, saw the strongest year-over-year growth out of all Richemont’s business areas, with sales increasing 10 percent to $2.07 billion in the quarter ended Dec. 31. Sales were up 9 percent for the group’s Specialist Watchmakers, climbing from $1.07 billion in the third quarter of 2012 to $ $1.11 billion during the same period in 2013.  Sales increased in all the company’s other regions--Europe and the Middle East (9 percent), Asia-Pacific (6 percent), and Japan (13 percent). Retail sales, which were up 14 percent, outperformed wholesale sales, which rose 3 percent. Richemont will release its full-year financial results on May 15