Sumary of Richemont: first quarter sales growth everywhere except China:
- Richemont’s overall growth was driven by retail, which accounted for 58% of the group’s turnover, up from 55% in the previous same period.
- If we compare the successes of Richemont and Burberry in China, then these players have approximately the same situation, but in the USA, Richemont is doing much better, today the States is the largest single market for the conglomerate.
- Profitability in this area was provided by stable demand and, accordingly, good, both retail and wholesale sales in most regions and almost all brands.
- The result for the Asia-Pacific region is 1.78 billion euros (101.3 billion rubles *) and minus 15%.
- The European market of Richemont generated sales of 1.29 billion euros (73.4 billion rubles *), which is 42% (excluding exchange rate fluctuations) higher than the previous figure.
- In the three-month period ending in June, luxury giant Richemont registered strength in Europe, Japan, the Americas and the Middle East, but not in the covid-affected Asia-Pacific region.
- See catwalkChloe – Spring-Summer 2022 – Womenswear – Paris – © PixelFormula 5.26 billion euros (299.6 billion rubles*).