The Swiss luxury goods group Compagnie Financière Richemont SA (Richemont) closed the third quarter of the 2021/22 financial year with a strong increase in sales. In the period from October to December, sales in all market regions rose by double-digit percentages, the company said in an ad hoc release on Wednesday.
Consolidated sales amounted to EUR 5.66 billion in the third quarter, exceeding the corresponding prior-year level by 35 percent. Adjusted for exchange rate changes, it rose by 32 percent. In the company’s own boutiques, sales increased by 49 percent (currency-adjusted +45 percent) and reached a level of 3.40 billion euros. Sales in the online business increased by 22 percent (currency-adjusted +19 percent) to 1.03 billion euros. Wholesale and license revenues totaled EUR 1.23 billion, up 17 percent year-on-year (currency-adjusted +14 percent).
All market regions contributed to the strong growth: In Europe, sales rose by 44 percent (currency-adjusted +42 percent) to 1.41 billion euros, in America they even increased by 59 percent (currency-adjusted +55 percent) to 1.33 billion euros . In the Middle East and Africa, revenues were EUR 398 million, an increase of 33 percent (+30 percent at constant currency) compared to the same period last year. In Japan, sales grew by 16 percent (currency-adjusted +22 percent) to 389 million euros, in the other countries of the Asia-Pacific region they increased by 23 percent (currency-adjusted +18 percent) to 2.13 billion euros.
Thanks to the strong increases, Group sales also significantly exceeded the pre-crisis level: Compared to the third quarter of 2019/20, in which the Covid-19 pandemic had no impact on business, sales improved by 36 percent (currency-adjusted +38 percent).