Richemont : Jewellery brands still a hit in Q1, hard not to be concerned about overheating
>Q1 sales close to 5% above expectations with Jewellery Maisons showing two-year growth of 43% vs 28% the previous quarter - Group sales in Q1 2002 (year to end-March 2022) came to € 4.397bn and beat the consensus and our forecasts by c. 5%. The beat of nearly € 200m stems mainly from Jewellery Maisons (Cartier/VanCleef) which produced a sharp uptick in two-year growth on cc in sequential terms, accelerating from 28% in Q4 2021 to 43% in Q1 2022, and exceeded expectat...Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
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