The Federation of the Swiss Watch Industry has just released their export statistic for 2023 – December ended the year on a positive note with exports up 5.5%. For the year as a whole, the industry exports recorded an increase of 7.6% compared to 2022, reaching their highest level ever at CHF 26.7 billion for […]
Switzerland-based luxury conglomerate Richemont Group has just issued its trading update for the nine months ended 31 December 2023. The group, which includes brands such as Cartier, IWC, JLC and Vacheron, reports sales up by 8% at constant exchange rates and by 4% at actual exchange rates to EUR 5.6 billion for the last quarter […]
Switzerland-based luxury conglomerate Richemont Group has just issued its trading update for the six months ended 30 September 2023. The Group delivered a solid performance with sales up 6% at actual exchange rates and 12% at constant exchange rates. Sales and operating profit from continuing operations were of EUR 10.2 billion and EUR 2.7 billion, […]
Following 2022 with impressive growth for the industry (a record year for exports) for luxury groups involved in watchmaking and jewellery (LVMH, Swatch), indicators and analysts were not so confident regarding the outlook for 2023. Growing inflation, geo-political tensions and a potential economic contraction could have led to lower sales. However, following the announcement by […]
Richemont Group, the luxury powerhouse behind Cartier, IWC, Jaeger-LeCoultre, and more, like most conglomerates operating in the luxury industry, has been dramatically impacted by the current sanitary situation and the COVID-19 pandemic with sales down 16% over the first 9 months of its current financial year (April-December 2020). Still, the group has released this morning […]
Switzerland-based luxury conglomerate Richemont Group has just issued its trading update for the six months ended 30 September 2020. As expected in these uncertain times, sales are down. COVID-19 impacted activities but the situation has improved over the past months helped by Chinese demand. For the half-year, sales decreased by 26% at actual exchange rates […]
Following the monthly announcements made by the FHS regarding Swiss watch exports and half-year results by Swatch Group a couple of days ago, it is now time for the other giant of the Swiss watch industry, Compagnie Financière Richemont SA, to announce its first-quarter 2020 results… And, as expected from the current coronavirus situation, lockdown […]
In a statement released this morning, luxury group Richemont – the owner of multiple high-end watch brands, such as IWC, Lange, JLC or Cartier – has announced its results for the year ended 31 March 2020. On a yearly basis, the group recorded revenues of EUR 14, 238 million, up 2% at actual exchange rates […]
Switzerland-based luxury conglomerate Richemont has issued its trading update for the quarter ended 31 December 2019. Richemont announced that at EUR 4,156 million, sales in the quarter rose 6% at actual exchange rates and 4% at constant exchange rates. The business statement was particularly awaited, considering the situation in Hong Kong, a major business hub […]
Switzerland-based luxury conglomerate Richemont Group has just issued its trading update for the six months ended 31 September 2019. In these unaudited consolidated results, the Group shows overall growth, however, the situation has to be nuanced: on one side, there is positive impact in the Jewelry Maisons and Online distributors, on the other, almost flat […]