Editor’s Note
Richemont’s latest results highlight the resilience of its core jewelry business amid challenging market conditions. While sales held steady, currency fluctuations and broader economic headwinds impacted profitability. The performance underscores the strategic importance of its balanced global footprint and premium brand portfolio.
On November 8, Swiss luxury goods giant Richemont Group announced its financial results for the first half of the 2025 fiscal year, ending September 30, 2024. Benefiting from the group’s balanced geographical portfolio and the continued strong growth of its jewelry brands, sales from continuing operations remained flat year-on-year at €10.1 billion (down 1% at current exchange rates). Operating profit reached €2.2 billion, down 12% at constant exchange rates (down 17% at current exchange rates), primarily reflecting a decline in sales within the Specialist Watchmakers segment, a slight decrease in gross margin, and continued investment in the long-term growth of its brands.
During the reporting period, Richemont Group’s combined sales in Mainland China, Hong Kong, and Macau decreased by 27% year-on-year.
As of the close on November 8, Richemont’s share price fell 6.61% to 119.3 Swiss francs per share compared to the previous day, with a latest market capitalization of 69.8 billion Swiss francs. Over the past 12 months, the group’s share price has accumulated a gain of 6.76%.
Regarding this, Group Chairman Johann Rupert commented…