Swiss luxury goods conglomerate Richemont has reported a resilient annual performance, with its jewellery division emerging as the primary growth engine. For the fiscal year ended 31 March, group sales rose by five percent to 22.42 billion euros. A standout 8-percent increase in jewellery revenue to 16.54 billion euros effectively offset a four-percent decline within the watch segment.
The company announced that all its prestigious jewellery maisons—including Cartier, Van Cleef & Arpels, and Buccellati—recorded double-digit growth across every region and distribution channel. This robust performance was bolstered by strategic retail network expansion, such as the refurbished Cartier boutique in Miami and new Van Cleef & Arpels openings in Italy and Germany. Chairman Johann Rupert attributed the division's strength to a "clear long-term approach centred on differentiation and strong brand identity."
Despite navigating significant headwinds from rising gold prices and adverse currency movements, the jewellery houses maintained profitability. They implemented measured price increases while rigorously controlling operating expenses and continuing to enhance brand desirability. Iconic collections like Cartier's Love and Panthère were cited as key drivers.
Conversely, the watch division faced challenges, with operating profit plunging 39 percent to 107 million euros. However, brands including Jaeger-LeCoultre and Vacheron Constantin showed a marked improvement in the second half of the year. Group profit for the period surged 27 percent to 3.48 billion euros, underscoring the pivotal role of jewellery in sustaining Richemont's overall financial health amid a mixed luxury market. (Photo courtesy: Cartier)
15-06-2026
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