Richemont announces strong annual sales growth

Richemont group has announced its year-end results for the fiscal year ended March 31 has reached a strong annual sales growth by 33 percent.  Total sales were $9.86 billion, compared to $7.41 billion in the previous fiscal year. Gross profit increased 38 percent to $6.28 billion, while gross margin improved from 62 percent to 64 percent. Jewellery sales rose 29 percent to $4.98 billion in the fiscal year and watch sales were up 31% to $2.53 billion. Further, sales for Montblanc rose 22 percent, while sales for Net-A-Porter.com, the group’s Fashion and Accessories Maisons and watch component manufacturing activities were up 66 percent on the fiscal year.