Editor’s Note
In a luxury sector facing headwinds, Cartier demonstrates remarkable resilience, reinforcing its status as a cornerstone of stability for parent group Richemont. This analysis explores the brand’s enduring strength amid shifting market dynamics.
While trees may not grow to the sky, the sturdiest ones maintain their proud stature when the weather turns. In a luxury market undergoing significant upheaval, Cartier, the flagship brand of the Richemont group (which also includes Van Cleef & Arpels, IWC, Jaeger-LeCoultre, Piaget, Chloé…), confirms its position as one of the most resilient brands in the sector.
For the first six months of the 2024-2025 fiscal year (ending in late September), the revenue of Richemont’s jewelry division, driven largely by Cartier which accounts for three-quarters of its sales, grew by 4%, surpassing 7 billion euros. At a time when nearly all luxury players have experienced a sharper-than-expected slowdown in activity this summer, the king of jewelers maintained its growth pace during the period.
Simultaneously, Louis Vuitton, the world’s leading luxury brand, saw its sales decline by 5%. Sales at Gucci, which has been struggling for several years, plunged by 21%. The brand boasts 277 boutiques worldwide.
