Richemont reported first quarter sales up 17% to €6.33bn, ahead of expectations, with constant currency growth of 20%. Jewellery Maisons led performance with sales up 21%, while Specialist Watchmakers grew 6% and the Other division increased 7%. Growth was driven by strong local demand across the Americas, Asia Pacific, Japan and Europe, with retail sales rising 21%. The group ended the quarter with a net cash position of €9.1bn, supported by a €0.4bn inflow from the disposal of its Avolta stake.
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