Richemont announced further sales grow acceleration in the third quarter ended 31 December 2021.
Sales rose by 32% versus the prior year period driven by double-digit increases in all regions, channels and business areas, in a relatively supportive economic environment.
The Americas led the growth with sales up by 55%, followed by Europe and Middle East and Africa, where sales grew by 42% and 30%, respectively. Japan and Asia Pacific saw sales increase by 22% and 18%, respectively, with China consolidating at a high level of +7%. Regional sales mix continued to be further rebalanced with Asia Pacific accounting for 38% of Group sales, followed by Europe and the Americas, at 25% and 23% of Group sales, respectively. Japan and Middle East and Africa each contributed 7% of Group sales.
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 strengthened to reach 78% of Group sales compared to 75% in the prior year period.
The Jewellery Maisons were the strongest performing business area, with sales increasing by 38%, immediately followed by the Group's Other business area (primarily our Fashion & Accessories Maisons) with sales up by 37%. The Specialist Watchmakers also performed markedly well with sales increasing by 25% while the Online Distributors posted 15% sales growth.
Alex Shishlo for Rough&Polished
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