Richemont Posts 4% Sales Growth to $24 Billion in 2025

Richemont reported a 4 percent year-over-year sales increase to €21.4 billion ($23.89 billion) for the fiscal year ending March 31, 2025, driven mainly by strong performance in its Jewellery Maisons, which saw an 8 percent sales rise. Despite retail and direct-to-client sales growth, particularly in Japan and the Americas, operating profit declined by 7 percent to €4.47 billion due to challenges including a 13 percent sales drop in the Specialist Watchmakers segment and higher costs. Direct-to-client sales now represent about 76 to 85 percent of total jewelry sales, highlighting the shift toward controlled distribution channels. The company’s profit for the year rose to €2.75 billion, supported by operational efficiencies and strategic price adjustments, although the gross margin and operating margin experienced declines. Richemont's strategic focus on high-demand hard luxury goods, investments in distribution and manufacturing, and brand expansions such as new boutiques globally have helped maintain resilience amid uncertain macroeconomic and geopolitical conditions. Analysts remain optimistic about Richemont's future growth potential, citing its strong market positioning and ability to outperform competitors despite upcoming tougher sales comparisons.