Watches, Asia-Pacific Fuel Richemont Sales
Published: Thursday, April 24, 2008
(Page 2 of 2)
Montblanc's sales grew 9 percent over the year, and the company said an increasing proportion of sales had come from the brand's leather goods, watches and jewelry. Lancel's sales declined during the period, during which the company introduced new products at higher price points. Sales at the company's other businesses, including Chloé, grew 8 percent during the year. The company said Chloé's sales were "in line with the prior year," during which they grew 50 percent. The company said its acquisitions during the year, which included the watch component manufacturer Donze-Baume SA and a stake in Azzedine Alaďa, had contributed to the sales growth of its other businesses category.
By region, sales in Europe and the Middle East, which represent 43 percent of total sales, grew 12 percent during the period to 2.29 billion euros, or $3.2 billion, from 2 billion euros, or $2.9 billion. Sales in the Americas grew by 3 percent at actual exchange rates but, at constant exchange rates, would have risen by 13 percent. Sales in the Asia-Pacific region grew 21 percent to 1.29 billion euros, or $1.83 billion.
However, the company's sales in Japan declined 5 percent during the period to 698 million euros, or $988 million. Richemont described the Japanese market as "challenging throughout the year," and said that its "limited" growth in sales in the region was offset by the weakness of the yen, which meant lower sales in terms of euros.
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