Richemont Group experiences extreme sales growth

The luxury goods company Richemont Group has experienced an exponential increase in sales for their December quarter. The organisation has seen a total increase in sales of 24 percent, for a cumulative reporting of €3.915 billion or $6.594 billion NZD over the period.

Within 2018 the Richemont Group acquired Yoox-Net-A-Porter in May and Watchfinder in June, two substantial online distributors who have strong standings in their respective marketplaces. This development has been credited for much of the company’s financial success in the last quarter.

The company has seen success across a majority of their regions, with the exception of the Middle East and Africa, whose sales slipped by 3 percent. Some of their most impressive sales increases came from Europe which was up 35 percent, Asia Pacific which increased by 17 percent and the Americas which increased by an astonishing 41 percent.

A majority of the group’s regions saw improvements outside of the online development, although to a less dramatic degree, which speaks to their overall marketplace presence and favour with consumers. Of the organisations extensive range of brands, the one which saw the most impressive growth during this productive period was Cartier and Van Cleef & Arpels, whose sales increased by 8 percent.