Richemont Reports Growth for Its Yearly Results Ended March 2025

The slowing world economic system and adjustments in shopper behaviour are hurting the posh watch business. Geneva-based luxurious items group Richemont reported a 4% enhance in gross sales for his or her 2024/25 12 months, closing on the finish of March at EUR 21,399 million. At EUR 3.8 billion, the revenue for the 12 months’s persevering with operation is down 1%. This sturdy efficiency in a difficult atmosphere was secured because of the Jewelry Maisons (Cartier and Van Cleef & Arpels, specifically), with gross sales of EUR 15,328 million, up 8% at precise and fixed charges. Alternatively, gross sales of Specialist Watchmakers have been down by 13% at EUR 3.283 million. Jewelry Maisons now characterize 71% of the entire exercise, whereas Specialist Watchmakers account for 15% of the Group’s gross sales.

Richemont stories that the contraction of enterprise for Specialist Watchmakers was largely affected by the enterprise in Asia Pacific, specifically China, Hong Kong and Macau, with a 27% contraction in gross sales for a area that represented 50% of the gross sales of the division the earlier 12 months. The Group additionally mentions a greater resilience for Vacheron Constantin and A. Lange & Sohne.

From a geographical perspective, Richemont’s enterprise was up in most areas to offset the decline in Asia Pacific (-13%) on account of weaker shopper confidence in China. Gross sales have been up in Japan (+30%), the Americas (+15%), Europe (+11%) and the Center East and Africa (+14%) at fixed change charges.

By distribution networks, gross sales have been up within the Group’s boutiques (+6% at fixed charges) and on-line (+11%) whereas wholesale and royalty earnings contracted by 3%. For extra particulars, please go to www.richemont.com.