High-end jewellers owned by luxury group Richemont performed strongly in the first quarter of fiscal year 2022, thanks to sustained demand in major markets.

According to Richemont, overall performance was up 12 per cent during the fiscal quarter ending June 30, 2022. All channels recorded growth, with retail sales rising by 18 per cent on the back of double-digit increases across all business areas, and noteworthy performances in Europe, the Americas and Japan.

The group’s jewellery maisons saw a 12 per cent upturn during the period in review amid Covid-related disruptions in China, a major market for jewellers. Richemont attributed the growth to thriving retail sales and solid demand for jewellery and watch at Buccellati, Cartier and Van Cleef & Arpels. Sales progressed in all regions and channels, excluding Asia Pacific and wholesale, the company said. 

Sales at its Specialist Watchmakers’ division rose 10 per cent, driven by online and offline retail sales. Growth was achieved in most maisons and regions, with an ongoing outperformance of A. Lange & Söhne, Panerai and Vacheron Constantin.