{"id":193397,"date":"2022-01-19T10:00:13","date_gmt":"2022-01-19T10:00:13","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=193397"},"modified":"2022-01-19T18:46:54","modified_gmt":"2022-01-19T18:46:54","slug":"richemont-announces-further-sales-growth-acceleration-in-q3","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/richemont-announces-further-sales-growth-acceleration-in-q3\/","title":{"rendered":"Richemont announces further sales growth acceleration in Q3"},"content":{"rendered":"<p><strong>Luxury group <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.theindustry.fashion\/the_directory\/richemont\/\">Richemont<\/a><\/span>, owners of Cartier and Chlo\u00e9, has revealed that Q3 sales substantially exceeded pre-pandemic levels, with sales up by 38% compared to the 2019 Christmas quarter.<\/strong><!--more--><\/p>\n<p>For the <strong>three month period ending 31 December 2021<\/strong>, the group's<strong> total sales rose to \u20ac5.66 billion<\/strong>, up 32% compared to the prior year period, driven by double-digit increases in all regions, channels and business areas.<\/p>\n<p>Swiss-based Richemont, which also controls\u00a0<strong><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.theindustry.fashion\/the_directory\/yoox-net-a-porter-group\/\">Yoox Net-A-Porter<\/a><\/span><\/strong>, said its j<strong>ewellery maisons<\/strong>, including Van Cleef &amp; Arpels and Buccellati saw <strong>sales growth of 38% at constant exchange rates, <\/strong>and up 41% at actual exchange rates.<\/p>\n<p>The <strong>fashion and accessories maisons saw<\/strong> <strong>sales growth of 37% at constant exchange rates<\/strong>, sustained by Chlo\u00e9, Montblanc and Peter Millar.<\/p>\n<p><strong>Specialist watchmakers<\/strong>, including IWC Schaffhausen, Jaeger-LeCoultre and Piaget saw <strong>sales growth of 25% at constant exchange rates<\/strong>, up 29% at actual exchange rates.<\/p>\n<p>The group added that retail generated the strongest channel performance, with sales up by 45%, followed by online retail sales up by 19% and wholesale sales up by 14%. Direct sales to consumers have further increased to reach 78% of group sales compared to 75% in the prior year period.<\/p>\n<p>For the <strong>nine-month period ending 31 December 2021<\/strong>,\u00a0 the group's <strong>sales increased by 50%<\/strong> at constant exchange rates and by 51% at actual exchange rates compared to the prior year period, a further improvement over the strong performance in the first six months of the financial year.<\/p>\n<p>Richemont's net cash position at 31 December 2021 amounted to \u20ac4.9 billion, compared to \u20ac 2.9 billion in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":99,"featured_media":132766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10488,10585,6,10494],"tags":[10134,11222,14403,35,10060,10353],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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