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Jewellery buoys Richemont’s performance up


Richemont, the world's second-biggest luxury firm, represents a 129 percent soar in jewellery sales in its first quarter ended on 30 June, exceeded its pre-pandemic level.  


Boosted by its biggest product category, jewellery, generated double-digit growth of 43 percent. Watch is the second-best performer. "Jewellery will be one of the main growth drivers of the luxury goods sector in the next five years," Vontobel analyst Jean-Philippe Bertschy said, adding dominant brands would continue to gain market share.


Regionally speaking, America saw the strongest regional performance growth by 276 percent. The Middle East and Africa followed close behind, which rose 154 percent. Sales in Asia rose 95 percent. However, revenue from Europe was 15 percent lower than in the group's first quarter in 2019.

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