Overview
- Group revenue reached €10.6 billion in the six months to Sept. 30, up 10% at constant currency and 5% at reported rates.
- Jewellery maisons led growth, with sales up 14% at constant rates as Cartier, Van Cleef & Arpels, Buccellati and Vhernier gained momentum in the second quarter.
- Europe, the Americas and the Middle East delivered double-digit growth, while China, Hong Kong, Macau and Japan returned to growth with improving second-quarter trends.
- Specialist watchmakers declined 6% at reported rates, though the division posted 3% second-quarter growth at constant currency after sequential improvements.
- Management enacted measured price increases to offset higher gold costs, currency swings and new U.S. duties, as Swiss economy minister Guy Parmelin sought tariff relief in Washington.