ZURICH, July 17 Reuters Richemont reported a 14 increase in sales during its first quarter as the world39;s second biggest luxury group continued to see strong demand for its highend jewellery.

The owner of Cartier and Van Cleef Arpels jewellery makers and several highend watch brands said a strong rebound in the AsiaPacific region more than offset muted sales in the Americas.

Sales in the Asia Pacific increased by 32 helped by the lifting of COVIDrelated restrictions and the reopening of borders.

In contrast, sales in the Americas fell by 4, Richemont said.

Overall, Richemont said its sales increased by 14 to 5.322 billion euros 5.97 billion in the three months to the end of June. The increase, when measured in constant currencies, was 19.

Analysts at Barclays had expected sales of 5.43 billion euros while those at Bank Vontobel had expected 5.54 billion euros. Richemont does not report first quarter profit.

1 0.8908 euros

Reporting by John Revill, Editing by Rachel More

Source Reuters