Switzerland-based luxury goods holding company Richemont has reported an 8% increase in sales for Q3 2022, and an 18% increase for the nine months ended December 31, 2022, Rough & Polished reports.
According to the report, there was a “double-digit sales growth reported at the Jewellery Maisons and Other business areas (+8% and +6% at constant exchange rates, respectively), offsetting a 3% sales reduction at the Specialist Watchmakers (-5% at constant exchange rates).
Additionally, the group, which owns Cartier, Van Cleef & Arpels, Jaeger-leCoultre and Piaget, among other brands,reported a “further increase of the Group’s net cash position to € 5.5 billion, up €0.6 billion, following the quarter’s solid trading.”
