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Richemont Overcomes Decline in Watches Thanks to Healthy Jewelry Demand

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Revenue jumps 7 percent for the luxury group.

Richemont – the Geneva-based parent company of a group of luxury brands that includes Cartier – reported a 7 percent increase in revenue to $6.79 billion in the fiscal year that ended March 31, according to Rapaport. The article says that strong jewelry demand overshowed a decline in watch sales, as timepieces “were negatively affected by a challenging environment in Asia Pacific and the Americas.” The healthy appetite for jewelry also helped offset lost revenue from a handful of flagship store closures for renovation.

Read more at Rapaport

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When Sales Beat Projections, You Know Wilkerson Did Its Job

There are no crystal balls when it comes to sales projections. But when Thomasville, Georgia jeweler Fran Lewis chose Wilkerson to run the retirement/going-out-of-business sale for Lewis Jewelers and More, she was pleasantly surprised to learn that even Wilkerson could one-up its own sales numbers. “Not only did we meet our goal, but we exceeded the goal that Wilkerson had given us by about 134%,” she says. After more than 40 years in the business, Lewis says she decided a few years ago to “move towards retirement.” And she was impressed by Wilkerson’s tenure in the industry. Overall, she’d recommend the company to anyone else who may be thinking it’s time to hang up their loupe. “As a full package, they’ve done a very good job and I’d definitely recommend Wilkerson.”

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