Richemont’s sales jump a third over festive period

2022-01-19 05:01:00 PM

Richemont’s sales jump by a third over festive period

Richemont’s sales jump by a third over festive period

Sales rose 35% at actual exchange rates in the three months to end-December, with luxury goods groups benefiting from pent-up demand

A Cartier store is seen in Hong Kong. File photo: BLOOMBERG/LAM YIKRichemont, the Swiss luxury goods group controlled by Johann Rupert, says strong demand for jewellery in the Americas and Middle East helped sales grow by a third in the three months to end-December, also boosted in part by a partial return of tourism spending.

Group sales of €5.66bn (R99bn) in Richemont’s third quarter were up 32% in constant currency terms year on year, and up 38% from 2019.Richemont’s iconic brands include Cartier, Van Cleef & Arpels, Mont Blanc and Piaget, and the global luxury goods market benefited in 2021 from pent-up demand as global economies opened up with the ramp-up in vaccination programmes.

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Richemont records over 30% sales growth in three months to DecemberJSE-listed Richemont reported that it has exceeded pre-pandemic sales levels across all its operating regions after posting a 32% jump in sales – at constant exchange rates – for the three months ended 31 December 2021 Moneyweb CompanyNews Matshoba_A

Richemont’s sales jump by a third over festive periodSales rose 35% at actual exchange rates in the three months to end-December, with luxury goods groups benefiting from pent-up demand

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Cognac sales jump 31% as drinkers go upmarketCognac sales surged by a nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drinks makers are putting the pandemic behind them. Pmbonambi

Cognac sales jump 31% as drinkers go upmarketCognac sales surged by a nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drinks makers are putting the pandemic behind them.

Richemont’s sales jump by a third over festive periodSales rose 35% at actual exchange rates in the three months to end-December, with luxury goods groups benefiting from pent-up demand

19 January 2022 - 10:44 A Cartier store is seen in Hong Kong.JSE-listed Richemont has exceeded pre-pandemic sales levels across all its operating regions for the three months ended December 31, 2021, boosted by a strong performance in its American and European businesses.19 January 2022 - 08:57 Karl Gernetzky A Cartier store is seen in Hong Kong.Sales of the brandy, produced in the Cognac region of France, rose by almost 31% in value to 3.

File photo: BLOOMBERG/LAM YIK Richemont, the Swiss luxury goods group controlled by Johann Rupert, says strong demand for jewellery in the Americas and Middle East helped sales grow by a third in the three months to end-December, also boosted in part by a partial return of tourism spending. Group sales of €5. The owner of luxury jewellery brand Cartier, reported double-digit sales growth across all its regions, channels and business areas, resulting in a healthy net cash position of €4.66bn (R99bn) in Richemont’s third quarter were up 32% in constant currency terms year on year, and up 38% from 2019.66bn (R99bn) in Richemont’s third quarter were up 32% in constant currency terms year on year, and up 38% from 2019. Richemont’s iconic brands include Cartier, Van Cleef & Arpels, Mont Blanc and Piaget, and the global luxury goods market benefited in 2021 from pent-up demand as global economies opened up with the ramp-up in vaccination programmes.9 billion) in comparison to the € 2. The strongest growth was generated in the Middle East and Africa, with sales up 65%, benefiting from increased domestic demand and higher tourist spend driven by Expo 2020 Dubai and the year-end holiday season. The outlook should remain positive in the coming months for all destinations, BNIC added.

The Dubai expo had been delayed by Covid-19, and continues until the end of March 2022. “The Americas led the growth with sales up by 55%, followed by Europe and the Middle East and Africa, where sales grew by 42% and 30%, respectively,” the group said in a Sens statement. The Dubai expo had been delayed by Covid-19, and continues until the end of March 2022. Sales in the Americas rose 59%, supported by strong local demand, followed by Asia Pacific, with a 47% sales increase, while sales in Europe were up 12%. Sales growth in Europe reflected solid domestic sales across the region that more than compensated for lower tourism spend compared with two years ago, notwithstanding clients from the Middle East and the US progressively returning to Europe, notably France, Richemont said. Pre-Covid-19 sales growth exceeded The group’s recovery to pre-pandemic sales levels was supported by the increase in demand for its Swiss luxury goods in the Middle East and Africa as well as higher tourism spend driven by the end of year holiday season and the Expo 2020 Dubai. In Japan, the surge in local demand led to a 23% sales increase after two declining quarters. In Japan, the surge in local demand led to a 23% sales increase after two declining quarters. In morning trade on Wednesday Richemont's shares had jumped 6. The sector saw a consumer spend slowdown as more people needed to preserve their money in preparation for the unknown. In late November, spirits group Remy Cointreau raised its full-year profit forecast after a better-than-expected first half, driven by strong demand for its premium cognac in China, the United States and Europe.

33% to R241.83, on track for their best day in just over two months.0 billion at the time (about R40 billion) on the market. The group's shares have more than doubled since the beginning of 2020, and Richemont's value rose above R1-trillion in 2021. Updated: .29 on Wednesday morning.