Jewelry and its boutiques make Richemont shine

The luxury group Richemont got off to a much better start to the fiscal year than analysts had anticipated. Sales of jewelry and watches rose across all brands, regions, and distribution channels.

The crown jewels

During the first quarter, which ended in late June, revenue rose 20% at constant exchange rates. At current exchange rates, growth stood at 17%, reaching 6.3 billion euros. The owner of Cartier, Van Cleef & Arpels, Chloé, and Montblanc, among others, described it as “an excellent start to the year.”