Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Richemont's FY Sales +29%, Profit +43%

30 may 2012

Richemont reported that group sales rose 29 percent year on year to $11.39 billion (EUR 8.87 billion) during the retailer's fiscal year that ended on March 31. Revenue growth was driven by higher demand from the Asia-Pacific region, new product launches and store openings, Rapaport reported. Richemont maintained its gross profit margin of 63.7 percent and operating margin improved 330 basis points to 23 percent. Profit rose 43 percent to $2 billion (EUR 1.54 billion).
“Richemont has achieved strong sales growth across all segments and all geographic regions, despite a volatile and diverse economic environment,” said Johann Rupert, Richemont’s chairman.
The luxury group reported that sales in the Asia-Pacific jumped 46 percent at constant exchange rates to $4.73 billion (EUR 3.68 billion) during the period due to selective expansion of its retail network in recent years. In Europe, sales rose by 20 percent to $3.98 billion (EUR 3.10 billion) helped by the growing number of travelers from other parts of the world.
Sales across the America’s grew 30 percent to $1.61 billion (EUR 1.25 billion) while in Japan revenue rose by 9 percent to $1.07 billion (EUR 833 million).
Sales at Richemont’s jewelry brands, which include Cartier and Van Cleef & Arpels, rose 32 percent to $5.90 billion (EUR 4.59 billion). Sales at its watchmakers increased 31 percent to $2.98 billion (EUR 2.32 billion).
Richemont stated that the boutique openings during the year were primarily in high-growth markets, such as Mainland China. The company directly operated 948 boutiques worldwide at the end of March, compared with 876 one year earlier.