Along with the publication of Richemont’s consolidated results for the six-month period, which ended on the 30th September 2017 the Group has taken the chance to announce a handful of key appointments.
The six months considered in the review report positive figures with growth in all segments, regions and distribution channels. Sales went up by 10% at actual exchange rates to € 5 605 million and by 12% at constant exchange rates. If, however, we take the inventory buybacks made in the same period last year, the sales increase figure stands at 8% at constant exchange rates.
The growth comes with rosier sales health in Asia, with Asia Pacific alone (excluding Japan) responsible for 39% of Group sales. Mainland China, Hong Kong, Korea and Macau were plausibly the greatest contributors to this effect as a result of the 25% increase in sales in these locations. Comparatively, Europe posted the second highest percentage for Group sales at 29%.
Chairman, Johann Rupert also takes the opportunity within the financial updates report to sound out the Group’s recent stakes acquisition in Dufry, describing the company as “…a leading travel retail specialist listed on the Swiss stock exchange, reflecting our view that travel retail spending will increase over time.”
Of course, the last bit of news in rounding up the announcements is that of Jérôme Lambert’s immediate reassignment to become Richemont’s Chief Operating Officer. After Georges Kern’s recent and unexpected departure to Breitling, it was necessary to give the Group a definitive leadership face. Therein, Lambert would’ve been very much a natural choice, in light of his most recent prior appointment as Head of Operations responsible for all maisons other than jewellery and watchmaking. Lambert’s new role will have him oversee all of the brands owned by the Group, save for Cartier and Van Cleef & Arpels.
The other change in management involves Emmanuel Perrin, who was, until now, the International Sales Director of Cartier. His new role will have him assist Jérôme Lambert as Head of Specialist Watchmakers Distribution.
If you are so inclined, you can download the complete unaudited consolidated results report here.
The announcement for Jérôme Lambert and Emmanuel Perrin’s new appointments can be found here.
