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Richemont Quarterly Sales Rise 7% on Strong Jewelry Demand May 21, 2025 (0 comments)
Paris, France--Swiss luxury group Richemont, owner of Cartier and Van Cleef & Arpels, reported a 7% increase in quarterly sales to 5.17 billion euros ($5.8 billion), according to Reuters. Jewelry sales rose 11% year-on-year in the quarter ending March 2025, offsetting an 11% decline in watch sales as demand in China weakened due to the property crisis.
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Richemont’s jewelry division accounted for 54% of total sales, up from 36% in 2019, the report stated. Analysts cited by Reuters noted Richemont’s resilience compared to other luxury groups, attributing it to the company’s focus on high-end jewelry and its ultra-wealthy clientele.
Richemont shares rose 5% after results were announced. The company’s stock is up 18% this year, while rivals LVMH and Kering are down 20% and 25%, respectively, per the report.
Richemont Chairman Johann Rupert said the company is monitoring U.S. tariffs and will adjust strategy as needed. Cartier increased prices in March, citing exchange rate movements, the report noted. U.S. tariffs currently stand at 10% after a temporary pause on higher rates.
Consultancy Bain forecasts luxury sector sales will fall 2% to 5% this year, following a 1% decline in 2024.
See more in this report by Reuters.