Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Sales up 6% at luxury goods group Richemont

Swiss luxury goods group Richemont, which counts Alfred Dunhill and Chloe among its best-known brands, has announced sales of €11bn (£8.4bn) for the year to March 31, a year-on-year increase of 6%.

chloe

chloe

Gross profit also increased by 4% to €7.1bn (£5.4bn). Despite this overall operating profit was down by 23% due to a property disposal gain the prior year and current “restructuring and write-down charges”.

The business demonstrated strong sales growth in almost every geographic region, with particularly strong performances in Europe and the Middle East. However, this was offset by disappointing growth in the Asia Pacific region. This was put down to the failure of the Hong Kong and Macau economies to bounce back from a recent downturn.

Richemont chairman Johann Rupert said the group is “confident in the long-term demand for high-quality products”.

“The group remains committed to supporting its Maisons to conceive, develop, manufacture and market products of beauty, individuality and the highest quality,” he continued. “These values are enduring and will see Richemont well positioned to benefit from an improved market in the years to come.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.