Richemont Reports 7% Sales Boost as Jewellery Division Leads Global Growth
Richemont, owner of Cartier and Van Cleef & Arpels, posts a 7% annual sales rise, with jewellery leading growth despite mixed global demand. Read the latest luxury market analysis.
Global luxury group sees robust gains in jewellery sales, defying economic headwinds
(GENEVA, Switzerland — May 16, 2025) — Richemont, the Swiss-based owner of Cartier and Van Cleef & Arpels, reported a solid 7% increase in annual sales on Friday, underscoring continued consumer appetite for high-end jewellery amid fluctuating global economic conditions. The luxury conglomerate’s resilience highlights the growing strength of iconic jewellery houses, even as demand for watches and other categories remained mixed.
Richemont’s Full-Year Sales Climb Thanks to Jewellery Demand
Compagnie Financière Richemont SA announced its financial results for the year ended March 31, 2025, revealing annual sales of €20.6 billion ($22.3 billion), up from €19.1 billion in the previous period. The company credited its storied Jewellery Maisons — which include Cartier, Van Cleef & Arpels, and Buccellati — for driving growth with a 12% uptick in sales year-on-year.
The performance comes despite persistent macroeconomic uncertainty, with luxury groups watching closely for signs of consumer softening. “Against a backdrop of heightened volatility and geopolitical tensions, Richemont’s performance underscores the enduring appeal of our Maisons and the resilience of the luxury sector,” said Chairman Johann Rupert.
Jewellery Shines, Watches and Online Retail Face Challenges
Cartier, Van Cleef & Arpels, and Buccellati Lead Gains
Richemont’s jewellery businesses posted €13.4 billion in revenues, cementing their position as the company’s most lucrative segment. Both Cartier and Van Cleef & Arpels, with their timeless collections and innovative new designs, were singled out by Rupert as growth catalysts.
The jewellery division’s strong showing contrasted with Richemont’s specialist watchmakers — which include Piaget, IWC, and Jaeger-LeCoultre — reporting flat sales of €3.6 billion. The company noted subdued demand for watches in some Asian markets, though Europe and the Americas saw moderate improvement.
E-Commerce Lagging, But In-Store Sales Thrive
The group’s online distributor arm, including fashion e-tailer Yoox Net-A-Porter (YNAP), recorded a 5% drop in sales. Richemont continues to explore strategic options for YNAP, which has struggled to keep pace with in-person luxury sales following the pandemic-driven e-commerce boom.
“In-store experiences remain irreplaceable for our clientele, who value the artistry and personal touch our Maisons offer,” Richemont’s CEO Jérôme Lambert said.
Regional Trends: Asia and Europe in Focus
Richemont reported varied regional performances:
Asia-Pacific: Still the largest region, sales rose about 2% as Chinese demand rebounded, offsetting softer results in Hong Kong and Japan.
Europe: Sales surged 10% amid strong tourism flows and robust local demand, particularly for jewellery.
Americas: Moderate gains, with the U.S. maintaining a stable appetite for Richemont’s high-end offerings.
Industry Perspective: Luxury Market Proves Its Resilience
Industry analysts note Richemont’s results mirror broader trends in the luxury sector, where fine jewellery continues to outpace watches and fashion. “Jewellery has become both a luxury statement and a form of investment, appealing across regions and demographics,” said Luca Solca, luxury analyst at Bernstein.
However, the sector remains mindful of potential risks, including geopolitical instability, fluctuating currency rates, and evolving travel patterns, all of which could temper growth.
Leadership, Outlook, and Next Steps
Johann Rupert announced Richemont would propose Nicolas Bos, currently CEO of Van Cleef & Arpels, as Group CEO and Board member — signalling a continued focus on jewellery innovation and expansion for the future. The group also increased its dividend by 18% to reward shareholders.
Looking ahead, Richemont remains cautiously optimistic. “Our proven strategy, balanced portfolio, and unerring focus on craftsmanship position us to thrive regardless of market headwinds,” Lambert said.
Sources Used:
Reuters: "Cartier-owner Richemont sales up 7% as jewellery shines" (https://www.reuters.com/business/cartier-owner-richemont-sales-up-7-jewellery-shines-2025-05-16/)
Richemont Group official press release and reports
Quotes from Johann Rupert and Jérôme Lambert
Industry analyst commentary (Bernstein, market reports)
