Compagnie Financiere Richemont AG (CFRUY.PK), a Swiss luxury goods company,reported Thursday that its total sales for the third quarter grew 10 percent to 6.15 billion euros, its highest ever quarterly sales, from prior year's 5.59 billion euros. Sales at constant exchange rates also grew 10 percent.
Retail sales went up 11 percent from last year to 4.38 billion euros. Online retail sales climbed 18 percent. Wholesale and royalty income was up 4 percent to 1.35 billion euros.
In the quarter, the company recorded double-digit growth in the Americas, Europe, Middle East & Africa and Japan.
Meanwhile, Asia Pacific sales dropped 7 percent amid challenging demand in China. Sales fell 18 percent in Mainland China, Hong Kong and Macau combined.
Jewellery Maisons sales grew 14 percent to 4.50 billion euros, while sales of Specialist Watchmakers dropped 8 percent. 'Other' sales grew 11 percent, including Fashion & Accessories Maisons at up 7 percent.
The company's 9-month sales grew 3 percent from last year to 16.2 billion euros.
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