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Strong Asia growth boosts Richemont’s first-quarter sales

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In company news today | Strong Asia growth boosts Richemont’s first-quarter sales

The Rupert family-controlled Richemont, which owns the Cartier and Van Cleef & Arpels brands, grew sales by 12% in the three months to end-June thanks to strong growth in Asia and rising online sales.

The group’s recent foray into e-commerce — it acquired Yoox Net-a-Porter and pre-owned watch platform Watchfinder — has given sales a boost and it aims to build its online presence, particularly in China. Richemont said on Thursday that excluding online distributors, sales rose by a more modest 6% at actual exchange rates, or 3% at constant exchange rates.

 

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