Following a turbulent interval, the marketplace for luxurious items is nicely on observe for restoration… For the 6 months interval ended 30 September 2021, Switzerland-based luxurious group Richemont recorded robust income progress. At EUR 8,907 million, gross sales have been up 63% at precise change charges and 65% at fixed change charges. In comparison with the identical interval earlier than the pandemic – in 2019 – gross sales elevated by 20% at precise change charges and by 24% at fixed change charges. The working revenue for the interval amounted to EUR 1,949 million up 331% year-on-year, and up 67% in comparison with the identical interval two years in the past.
Richemont experiences a 67% enhance for the sale of its jewellery Maisons (Cartier, Van Cleef & Arpels…) at EUR 5,097 million. At EUR 1,679 million, gross sales on the Specialist Watchmakers have been 74% larger than within the prior-year interval, and seven% larger on a two-year foundation. Richemont underlines the rising integration of gross sales from a multi-brand to a mono-brand atmosphere (Instantly operated shops, e-commerce and mono-brand franchise) now accounting for 69% of Watch Specialists enterprise. Final, the gross sales for on-line distributors have been up 37% at EUR 1,278 million.
By Area, gross sales accelerated for the Americas (+123% year-on-year), Asia Pacific (+47% year-on-year) and Center East and Africa (+62% year-on-year) and “strong double-digit gross sales will increase over the six-month interval ended 30 September 2019.” The enterprise stays softer in Europe (+62% year-on-year however down 9% in comparison with the identical interval in 2019) and in Japan (+56% year-on-year however down 12% in comparison with the identical interval in 2019).
For extra info, please go to www.richemont.com.
https://monochrome-watches.com/industry-news-strong-growth-for-richemont-for-the-6-month-period-ended-30-september-2021/
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