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Geneva--Revenues rose 29 percent in the first six months of the fiscal year for Richemont, with robust sales of jewelry and watches in the Americas and Asia-Pacific.

According to results released Friday, for the six-month period ended Sept. 30 Richemont’s sales in the Americas were up 23 percent year-over-year. “The performance was specifically driven by significant high jewelry sales, although business in general has been very encouraging,” the luxury goods conglomerate stated.

Only sales in Asia-Pacific outperformed the Americas, with revenues there climbing 48 percent. Sales were up 20 percent in Europe and 8 percent in Japan.

Sales in Richemont’s Jewellery Maisons group, comprised of Cartier and Van Cleef & Arpels, rose 34 percent. The group benefitted from new store openings in the Asia-Pacific region, solid demand for High Jewellery pieces as well as the brands’ more accessible ranges and Cartier watches.

The Specialist Watchmakers’ sales rose 30 percent in the period, with all brands performing well worldwide. Richemont’s portfolio of watch brands is comprised of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the watch and jewelry joint venture with Ralph Lauren.

Sales also were up for the Montblanc Maison, rising 10 percent, reflecting good demand for the brand’s range of watches and accessories, particularly in the Asia-Pacific region. Richemont’s Fashion and Accessories businesses, which are discount luxury goods website Net-A-Porter and the group’s watch component manufacturing business, reported a 25 percent increase in sales.

Overall, Richemont recorded sales of $4.67 billion, compared to $3.62 billion for the six-month period ended Sept. 30, 2010. Gross profit was up 26 percent though margins fell from 65 percent to 63 percent, impacted by adverse current movements affecting sales, the strength of the Swiss franc (the majority of the group’s manufacturing facilities are in Switzerland) and the acquisition of Net-A-Porter. Net-A-Porter’s gross margin percentage is well below the average because of the site’s deep discount model.

“We are pleased to report a solid performance in the first half of this year,” Richemont Executive Chairman and CEO Johann Rupert said. “Our Maisons were able to benefit from a favorable trading environment to enhance their positions in jewelry, watchmaking and accessories.”

He added that the strong sales seen in the first half of the year have continued through October, with sales up 28 percent over those of October 2010.

“For the second half of the financial year, we face both the impact of global economic problems on the luxury goods industry in general, and the demanding comparative figures against which group sales will be measured,” he said. “Notwithstanding these challenges and based on the group’s performance for the year to date, operating profit for the full year is expected to be significantly higher than last year.”