Richemont sales for December quarter up by 28 per cent

20 JAN 2000

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.