On January 15, Swiss luxury group Richemont announced its results for the third quarter ended December 31, 2025. Group sales reached €6.4 billion, representing an 11% year-on-year increase at constant exchange rates.
Despite facing a demanding comparison period marked by double-digit growth a year earlier, Richemont maintained a steady growth trajectory during the third quarter, supported by the year-end festive season.
Jewellery Maisons Drive Growth
By business area, the Jewellery Maisons—home to brands such as Cartier and Van Cleef & Arpels—delivered the strongest performance, with sales rising 14% at constant exchange rates.
Growth was supported by iconic core lines as well as new product launches and effective communication initiatives, with both jewellery and watch categories posting solid gains.
Specialist Watchmakers also reported a 7% increase in sales, marking a second consecutive quarter of positive growth. Meanwhile, the “Other” business area, which includes Fashion & Accessories, remained broadly stable overall, while Fashion & Accessories Maisons alone recorded a 3% increase, demonstrating resilient performance.
Growth Across All Regions, Japan Up 17%
Regionally, all markets recorded growth at constant exchange rates, with double-digit increases in the Americas, Japan, and the Middle East & Africa.
Sales in the Americas rose 14%, supported by growth across all business areas. Japan posted a particularly strong performance, with sales up 17%, driven primarily by Jewellery Maisons and supported by both local and tourist demand.
The Middle East & Africa region recorded the highest growth rate at 20%, led by strong momentum in the United Arab Emirates market.
Europe saw sales increase by 8%, supported by local demand and tourist spending from North America and the Middle East. Asia Pacific also maintained positive momentum, with sales rising 6%.
Retail Leads Expansion Across Distribution Channels
By distribution channel, retail continued to lead growth, with sales up 12% and accounting for 72% of group sales. Wholesale and royalty income increased by 9%, while online retail sales rose 5%, resulting in growth across all channels.
Nine-Month Sales Also Maintain Double-Digit Growth
For the nine-month period from April to December 2025, group sales totaled €17.0 billion, up 10% at constant exchange rates and 5% at actual exchange rates. Growth remained well balanced across regions, business areas, and distribution channels.
As of December 31, 2025, Richemont’s net cash position stood at €7.6 billion, underscoring its solid financial foundation. Despite ongoing macroeconomic challenges, including currency volatility and rising raw material costs, the group continues to invest in the long-term growth prospects of its Maisons.
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