Cartier’s owner continues to sparkle as wealthy Americans splash out on jewellery, despite economic uncertainty.
Swiss company Richemont, which also owns Van Cleef & Arpels and watchmaker Piaget, said sales hit £4.4billion in the three months to the end of March.
That was 7 per cent higher than the same period last year and came as an 11 per cent rise in its jewellery business more than offset an 11 per cent decline in its watches division.
Business was boosted by strong demand in the US where the wealthy splashed out despite worries about the economy and the impact of Donald Trump’s tariffs.
Star power: Brand ambassador Lily Collins wears Cartier jewellery
Trading in Asia remained sluggish, however, with Chinese sales hit as the country’s property crisis diminished the appetite for expensive luxuries.
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