Cartier owner Richemont delivers double-digit growth as jewellery remains resilient

Richemont has reported a strong third quarter, with sales rising 11% at constant exchange rates to €6.4 billion (£5.55 billion) in the three months to 31 December 2025, as its portfolio of jewellery and fashion brands continue to perform in a challenging luxury market.

The Swiss luxury group, whose portfolio includes Buccellati, Cartier, Van Cleef & Arpels, Jaeger-LeCoultre, Alaïa, Chloé and more, delivered a solid end to the calendar year despite currency headwinds and rising material costs.

Jewellery remained Richemont’s strongest category during the quarter, with sales at its four jewellery maisons rising 14% at constant exchange rates.

Specialist Watchmakers recorded a second consecutive quarter of growth, with sales up 7% at constant exchange rates, supported by double-digit growth in the Americas and Middle East & Africa.

The group’s Fashion & Accessories and ‘Other’ businesses delivered stable sales overall. Within this segment, fashion and accessories sales increased 3%, with Gianvito Rossi and Peter Millar delivering notable momentum. Pre-owned watch platform Watchfinder & Co. posted double-digit growth.

Geographically, Richemont delivered growth across all markets at constant exchange rates. Europe recorded an 8% increase, with the UK and Italy among the strongest performers. Meanwhile, the Americas rose 14%, Japan posted a standout 17% increase and the Middle East & Africa grew 20%. Asia Pacific sales increased 6%.

Retail remained Richemont’s largest channel, with sales up 12% and accounting for 72% of group revenue. Wholesale sales rose 9%, while online retail increased 5%.

For the nine months to 31 December 2025, Richemont reported sales of €17 billion (£14.73 billion), up 10% at constant exchange rates. The group ended the period with a net cash position of €7.6 billion (£6.5 billion).