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Richemont sales pick up but fashion remains flat

Richemont, the luxury goods group, said sales rose 2%, or 7% at constant exchange rates, for the three months to December 3, but sales of its fashion brands remained flat for the period.

Richemont, which owns fashion brands including Chloe and Alfred Dunhill as well as companies in the jewellery, watches and pens sectors, said that total sales for the group as a whole rose to €1,585m (£1,393m) for the period.

Sales in Europe were down 4% to €656m (£576.7m). The Asia Pacific was the strongest area geographically for Richemont, with sales up 25%, while the Americas saw a dip of 2% and Japan was down 12%.

Richemont’s retail business performed ahead of wholesale, with retail up 8% and wholesale down 2% for the three-month period.

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