Richemont posted better-than-anticipated results in the fiscal year, driven by “remarkable growth” at its high-end jewellery and retail segments.

Sales in the full year ending March 31, 2025 rose 4 per cent to €21.4 billion (around US$24.07 billion), led by the luxury conglomerate's jewellery business, which registered a year-on-year growth of 8 per cent to €15.3 billion (approximately US$17.21 billion).

The Cartier owner said the sales increase, combined with “disciplined operating costs and targeted price increases, helped mitigate the impact of higher raw material costs, notably gold, on our profitability.”

Richemont also owns luxury brands Buccellati and Van Cleef & Arpels. The group acquired Italian jeweller Vhernier in 2024 and invested in jewellery manufacturing facilities in France during the period.

All regions recorded double-digit growth except Asia Pacific, the group noted. 

“Jewellery and watch sales increased on the strength of iconic collections fuelled by creativity, including novelties such as Love medium and hinge (Cartier), Perlée® diamonds (Van Cleef & Arpels) and Opera Tulle additions (Buccellati),” explained Richemont. 

During the year in review, Richemont saw major store re-openings in Dubai Mall and South Coast Plaza at Cartier, and opening of new boutiques at Van Cleef & Arpels on Madison Avenue, New York, and Amsterdam, as well as a Buccellati flagship in Riyadh, to name a few. 

Retail sales rose 6 per cent compared to the previous year, reflecting growth in all regions, except Asia Pacific, largely fuelled by the jewellery segment.