Richemont’s jewellery division gains 9 percent rise in sales

Richemont has announced financial results for the year ended March 31, 2008, in which its overall group sales for the year rose by 10 percent to €5.301 billion ($8.46 billion). This increase was accounted across all its businesses including jewellery, watches, writing instruments, leather goods and accessories.

Its jewellery division reported a 9 percent year-on-year increase in sales. The jewellery division made of Cartier and Van Cleef & Arpels, had a cumulative sale increase to €2.657 billion ($4.24 billion), or 43% of the group’s overall sales. At constant exchange rates, Cartier and Van Cleef & Arpels reported increase in sales in all regions, although Cartier was on a better scale.

Richemont received good response for its sales in the Asia-Pacific region, particularly China and Hong Kong, a 3 percent increase in the US ($1.62 billion), and 12 percent in Europe ($3.66 billion).