Switzerland-based luxury goods holding company Richemont, which owns Cartier, Van Cleef & Arpels, Jaeger-leCoultre and Piaget, among other brands, has reported its sales performance for the first half of 2022, showing sales were up 24% to total €9.68 billion (around $10 billion).
Gross profit came in at €6.67 billion (around $6.9 billion) – up 27%. According to a press release, “sales growth was in the double digits in all regions except for Asia Pacific.” The group’s online retail category grew 9%, with 6% of total sales.
Group Chairman Johann Rupert said: “It is highly uncertain how the political, economic and social landscapes will evolve in Europe and in our other key markets. We only know that we will likely face volatile times ahead as central banks seek to rein in inflation while governments try to manage severe cost of living pressures […].”
