Will Richemont Watchmakers Match Success of Jewellery Maisons"
Richemont gears up for big horological reveals at Watches & Wonders amidst strong revenue growth in its jewellery business
The post Will Richemont Watchmakers Match Success of Jewellery Maisons" appeared first on LUXUO.
Following up on our report about the state of the Swiss industry, it is worth diving deeper into Richemont results ahead of Watches & Wonders.
The Geneva trade fair this year marks the first time the group is not the biggest player on the scene and represents an opportunity for brands such as Cartier, Jaeger-LeCoultre, and IWC to take a more assertive stance versus LVMH brands, as well as Rolex, Tudor, and Patek Philippe.
One particularly bright spot for Richemont is the return of Van Cleef & Arpels to the watch fair, which along with Cartier has been very impressive in developing its jewellery business. Not for nothing, both brands also boast very impressive watchmaking know-how and vision.
Image: Van Cleef & Arpels
In an official statement, Richemont cited revenue growth of 32 per cent (q-on-q) for its quarter ending in December 2021. Looking at the last normal year (2019), Richemont beats its own performance by 38 per cent, to offer better context for these latest figures.
Europe and the Americas accounted for much of this growth, as countries in these regions progressively make a return to normal life; China, which had opened up earlier but remains in its own pandemic bubble, registered sales growth of 7 per cen...
The post Will Richemont Watchmakers Match Success of Jewellery Maisons" appeared first on LUXUO.
Following up on our report about the state of the Swiss industry, it is worth diving deeper into Richemont results ahead of Watches & Wonders.
The Geneva trade fair this year marks the first time the group is not the biggest player on the scene and represents an opportunity for brands such as Cartier, Jaeger-LeCoultre, and IWC to take a more assertive stance versus LVMH brands, as well as Rolex, Tudor, and Patek Philippe.
One particularly bright spot for Richemont is the return of Van Cleef & Arpels to the watch fair, which along with Cartier has been very impressive in developing its jewellery business. Not for nothing, both brands also boast very impressive watchmaking know-how and vision.
Image: Van Cleef & Arpels
In an official statement, Richemont cited revenue growth of 32 per cent (q-on-q) for its quarter ending in December 2021. Looking at the last normal year (2019), Richemont beats its own performance by 38 per cent, to offer better context for these latest figures.
Europe and the Americas accounted for much of this growth, as countries in these regions progressively make a return to normal life; China, which had opened up earlier but remains in its own pandemic bubble, registered sales growth of 7 per cen...
| -------------------------------- |
|
|
