Editor’s Note
This article highlights a strong start to the year, with overall revenue growth of 7% in the first quarter. The performance was notably driven by the jewelry segment, which saw an impressive 11% surge.
Richemont, the Swiss luxury group that owns brands like Cartier and Van Cleef & Arpels, reported first-quarter sales that exceeded expectations despite a challenging global business environment marked by rising gold prices and trade wars. This was thanks to sustained consumption by the wealthy for top-tier luxury goods.
On the 16th, Richemont announced in its earnings report that its sales from January to March this year reached 5.17 billion euros, a 7% increase compared to the same period last year. This figure was 3.8% higher than the analyst consensus of 4.98 billion euros compiled by market research firm LSEG. For the entire 2025 fiscal year, total sales were calculated at 21.4 billion euros, a 4% increase from the previous year.
The improvement in performance was primarily driven by increased sales in the jewelry brand division, including Cartier, which grew by 11% year-on-year. On an annual basis, the jewelry division’s sales also grew by 8%, showing the strongest growth among the company’s business segments.
This is the result of Richemont’s solid brand value attracting consumer choice even during an economic downturn. The US financial media CNBC evaluated,
Richemont also achieved record quarterly sales of 6.2 billion euros in the October-December period last year. Its performance remained robust despite weak demand from China. Bank of America noted,
However, the contraction in global demand is a factor Richemont cannot ignore. This is due to consumers reducing discretionary spending amid US trade wars and economic uncertainty. In China, sales for the 2025 fiscal year plummeted by 23%. Johann Rupert, Chairman of Richemont, pointed out,
On that day, Richemont’s stock on the Swiss Zurich Stock Exchange closed at 165.65 Swiss francs, a sharp increase of 6.94%.
