Editor’s Note
Richemont’s latest results highlight the enduring strength of its jewelry division, which continues to anchor the group’s performance. While overall sales remain below last year’s peak, a solid 11% revenue increase signals resilience and broad-based growth in a challenging market.
In today’s Business Radar, we focus on the results of Richemont, which managed to increase its revenue by 11% during the third quarter. This progress is supported by a 4% increase in sales, reaching €6.4 billion, although they still remain below the levels recorded in the same period of the previous fiscal year. Nevertheless, the Swiss luxury group has achieved positive performance across nearly all its business lines, showing solid evolution in a still demanding context for the sector.
Jewelry once again proves to be the most relevant pillar of the group. The Maisons division experienced a 14% growth in its sales, nearing €5 billion. Cartier continues to be the strongest brand within this segment, but momentum also comes from the Italian firm Vhernier. Richemont acquired this house in 2024 for €94 million, attracted by its contemporary style and sculptural designs, which have resonated with a clientele seeking more innovative proposals within traditional luxury.
The watchmaking division also shows signs of recovery. Its sales exceed €800 million, representing a 7% year-on-year increase, after having suffered a 13% drop at the beginning of this same year. Geographically, the group has particularly benefited from dynamism in the Americas, where revenue grew by 14%, and especially in Japan, which recorded a notable 17% advance. Asia seems to have recovered some of its appetite for luxury, a key factor in explaining these figures.
Japan has become a true support for Richemont and other major houses in the sector in 2025. The weakness of the yen and the preference of Chinese buyers for nearby destinations have favored this phenomenon, further reinforced by numerous luxury exhibitions that have given visibility to the brands, as highlighted by the Financial Times. At the same time, the stabilization of China is encouraging news. In parallel, Richemont has renewed its leadership with the appointment of Nicolas Bos as CEO in 2024, driving new strategic acquisitions that strengthen its fashion and accessories portfolio.