Robust sales of luxury jewellery brands Buccellati, Cartier and Van Cleef & Arpels contributed strongly to Richemont's performance in its third fiscal quarter ending December 31, 2023.

Overall sales were up 8 per cent for the third quarter and 11 per cent for the nine months ending December 31, 2023, “notwithstanding a continued uncertain macroeconomic and geopolitical environment,” Richemont said.

The group recorded growth across almost all regions, primarily driven by Japan, Asia Pacific and the Americas. Jewellery maisons generated the strongest increase at 12 per cent to EUR3.94 billion (around US$4.26 billion) during the period in review, underpinned by solid jewellery and watch sales. Total Q3 sales reached EUR5.6 billion (approximately US$6.06 billion).

Richemont said, “In Asia Pacific, sales growth of 13 per cent was fuelled by a 25 per cent sales increase in mainland China, Hong Kong and Macau combined, on favourable comparatives against the prior-year period, more than offsetting softer performance in several other Asian markets.”

Sales rose by 8 per cent in the Americas, driven by a resilient economy and lower purchases abroad by domestic clientele, notably in Europe.