Cartier’s parent company’s third-quarter revenue rose 35%
In the third quarter ended December 31 last year, Cartier’s parent company Richemont’s revenue rose 35% year-on-year to 5.66 billion euros. A 32% increase in constant currency. Far exceeding market consensus, it also recorded growth of 36% and 38% compared to the same period in 2019.
By category, the core jewelry business rose 41% year-on-year to 3.34 billion euros. Compared with the same period in 2019, it increased by 55%, and the professional watchmaking sector increased by 29% to 977 million euros. Compared to two years ago, the increase was 19%, and Chloe’s fashion and accessories department also recorded a significant improvement. It rose 40% year-on-year to 610 million euros, an increase of 17% from the third quarter of 2019.
By region, the group had the strongest growth in the Americas, up 59% year-on-year to 1.33 billion euros. The European base also rose 44% to 1.41 billion euros. Sales in the Asia-Pacific region excluding Japan rose 23 percent to 2.13 billion euros. Sales in Japan also rose 16 percent to 389 million euros. The Middle East and Africa rose 33% to 398 million euros.