Connect with us

Headlines

Richemont Overcomes Decline in Watches Thanks to Healthy Jewelry Demand

mm

Published

on

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

Advertisement

SPONSORED VIDEO

Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

Promoted Headlines

Most Popular