Richemont 2007-2008 Financial Year

The Richemont financial year from March 2007 to March 2008 ended on a note of 5.8 billion euros, an increase in 10% from the 2006-2007 year at actual exchange rates; at constant exchange rates, turnover increase factors in at 16%. At the end of April, the luxury group published an official statement which noted that the growths in sales revenues were affected by the weakness of the US dollar and the yen.

All Richemont sectors showed positive growth, particularly luxury watches (Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & S?hne), jewelry (Cartier, Van Cleef & Arpels), and writing instruments (Montegrappa, Montblanc). Leather goods and accessories (Dunhill, Lancel) demonstrated the weakest performance overall.

The rise in turnover was attributable to all regions. Strongest increase in sales was registered in the Asia-Pacific region, despite a sales decline in Japan. Europe and the Middle East contributed strongly to the Group's turnover, at 43% of total Group sales. Despite suffering from the weakness of the dollar compared to the euro, the American market still managed to achieve an sales growth of 3% at actual exchange rates.

A detailed report may be obtained from the Richemont Group website