US EditionCartier Owner Richemont Sales Rise as Rich Shoppers Spend on Jewellery
JAPAN, CHINA, HONG KONG, MACAU, JUL 16 – Richemont's 6% revenue growth was driven by an 11% rise in high-end jewelry sales despite a 15% drop in Japan and declines across key Asian markets, company reported.
- Richemont, a Swiss luxury group, reported a 6% rise in sales to 5.4 billion euros for its fiscal first quarter ending June 30, 2025.
- This growth followed a difficult prior year that included a 59% surge in Japan, but current declines there of 15% reflected a strengthening yen and reduced tourist spending.
- Jewelry sales led Richemont’s growth with an 11% increase, while the watches division, including Vacheron Constantin and Jaeger LeCoultre, declined 7%, an improvement over the previous quarter's 11% drop.
- Sales rose strongly across Europe, the Americas, and the Middle East and Africa with double-digit gains, notably a 17% rise in the Americas surpassing HSBC's 12% forecast.
- Richemont's revenue resilience amid volatile macroeconomic conditions suggests continued demand for its high-end jewelry despite persistent challenges in Asia-Pacific and Japan.
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Richemont’s Jewelry Sales Soar in Q1 Due to Demand in Europe, Americas and the Middle East
Cartier, Van Cleef & Arpels and Richemont’s other jewelers notched double-digit gains for the third consecutive quarter with 11 percent growth at constant rates in the three months to June 30.
·United States
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Total News Sources25
Leaning Left2Leaning Right1Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 25%
C 63%
13%
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