Known majorly for clothes, leather goods and watches, Swiss luxury firm Richemont saw its sales grow by 46 per cent at actual exchange rates to clock €19,181 million.
The retailer saw this strong performance in the year that ended 31 March 2022 – as growth rebounded across all principal markets and distribution channels.
Richemont added that strong sales growth rates seen all through the first three quarters continued into Q4 as well, with overall group sales growing by 33 per cent at actual exchange rates and by 27 per cent at constant exchange rates.
Importantly, these numbers were attained despite the Russia-Ukraine conflict and the pandemic-induced restrictions in China.
However, even in tough times, having a net cash of €5.3 billion at the end of March 2022 is a source of strength for the luxury retailer.
When compared to the fiscal year ended 31 March 2020, the sales growth was 35 per cent at actual exchange rates and 37 per cent at constant exchange rates.
Region-wise, sales grew at Americas by 79 per cent, while Asia Pacific further built on its strong performance recorded a year ago.
The brands owned by Richemont include A. Lange & Söhne, Azzedine Alaïa, Baume & Mercier, Buccellati and Cartier, amongst others. It generated €13.14 billion in 2021.
