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ZURICH - SWISS luxury goods giant Richemont said on Wednesday its sales rose 13 per cent to 1.43 billion euros (S$3.07 billion) in the three months to June, boosted by strong growth in Asia.
Richemont beat analysts' expectations of a sales rise of 9.7 per cent.
The Asia-Pacific region 'continued to report very strong growth, particularly in China and Hong Kong,' with sales up 21 per cent, and accounting for one quarter of all Richemont's overall turnover, the company said in a statement.
Sales were also strong in the company's key market of Europe and the Middle East, up 17 per cent, but suffered from the weak US dollar to rise just six per cent at actual exchange rates in the Americas.
Japan continued to suffer from 'challenging market conditions' with sales down eight per cent in the quarter, Richemont said.
Richemont is the world's second-biggest luxury goods maker after France's LVMH, and is home to such prestigious brands as Piaget and Jaeger-LeCoultre watches, Cartier jewellery and Montblanc writing pens. -- AFP
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