Richemont, the Swiss luxury goods group, today announced that sales in the Group's third quarter period of October to December 1999 increased by 28%. Sales have been strong throughout the period but benefited in particular from very strong December sales, which exceeded all expectations.

Sales in the Far East grew by 44%, reflecting the continuing strong economic recovery in that region, together with the benefits of the strength of the Japanese Yen, whilst sales in the Americas region increased by 33%. Sales in Europe grew by 16%, reflecting the return of consumer confidence towards the latter part of the year.

Sales through the wholesale distribution network increased by 18% - in line with the trends seen earlier in the year - whilst sales through the Group's retail network grew by 43%.

About Richemont

Richemont owns an extensive portfolio of some of the world's leading luxury goods brands, including Cartier, Alfred Dunhill, Montblanc, Lancel and Van Cleef & Arpels, as well as the prestigious Swiss watch manufacturers Vacheron Constantin, Piaget and Baume & Mercier.