January 11, 2018 / 6:18 AM / a year ago

Richemont posts solid Q3 sales growth thanks to jewellery, Asia

ZURICH, Jan 11 (Reuters) - Cartier maker Richemont said on Thursday solid sales growth in the quarter to Dec. 31 was driven by the Asia Pacific region and buoyant jewellery demand, kicking off the luxury goods reporting season on a positive note.

“Double digit growth in Asia Pacific was driven by mainland China, Korea, Hong Kong and Macau,” the world’s second biggest luxury goods group, also known for IWC and Piaget watches, said in a statement.

Sales growth in constant currency slowed as expected to 7 percent in the quarter, from 12 percent in the six months to Sept. 30, reflecting a return to growth in the final quarter of 2016 after a severe downturn.

Reporting by Silke Koltrowitz; editing by Brenna Hughes Neghaiwi

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