The Swiss luxury goods group, which specializes in watches and jewelry, proved more resilient than LVMH and, above all, Kering during the last fiscal year. Driven by jewelry, sales were up almost everywhere except in the Asia-Pacific region, its primary market.
Like Hermès, Richemont is proving more resilient in the turbulent luxury market than the sector leader, LVMH, and, above all, Kering.
The Swiss watch, jewelry, and fashion group unveiled its 2024-2025 fiscal year results on Friday, May 16, which ended in March, and they were solid.
Decline in Asia Pacific and Watchmaking
The owner of brands including Cartier, Buccellati, Chloé, Piaget, and Van Cleef & Arpels saw its revenue increase by 4% (at constant and actual exchange rates) to €21.4 billion, despite a weak performance in the Asia-Pacific region and the watch division. Its performance is in line with the projections of the consensus of analysts at the AWP agency.
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Read also > Richemont breaks sales record in the last quarter of 2024
Featured image: © Cartier
