Wednesday, 27th April 2005 (6657 views)

Richemont has reported a rise in sales, as it released its sales update today.

According to the luxury company, total sales increased by ten per cent to £2.5 billion for the year to the end of March.

The brand has been boosted by the current boom in luxury spending and is the second biggest luxury house behind LVMH.

Richemont sells items included Cartier watches and saw jewelery and watch sales report strong results.

Jewellery sales were up by eight per cent to just over £1.3 billion, with the Van Cleef & Arpels brand also performing well.

Sales at Cartier were helped by the launch of a number of new watches and operating profit is expected to significantly improve.

Detailed full year results are expected on June 29th.

 

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