Richemont maintains strong momentum with 11 percent sales growth in third quarter

Swiss luxury group Richemont has reported a robust performance for its third quarter ended December 31, 2025, with sales reaching 6.40 billion euros (7.45 billion dollars). At constant exchange rates, revenue increased by 11 percent against demanding double-digit comparatives from the previous year, while growth at actual exchange rates stood at 4 percent.

The results were underpinned by the continued dominance of the Jewellery Maisons and a further recovery in the Specialist Watchmakers division. For the nine-month period ended December 31, 2025, total sales reached 17 billion euros, representing a 10 percent increase at constant rates and 5 percent at actual rates.

Jewellery and watch divisions drive performance

The Jewellery Maisons—comprising Buccellati, Cartier, Van Cleef & Arpels, and Vhernier—delivered a 14 percent increase in sales at constant exchange rates. This growth was broad-based across all regions and channels, led by iconic product lines and new launches. Specialist Watchmakers recorded their second consecutive positive quarter, with sales rising 7 percent at constant rates, driven by double-digit growth in the Americas and the Middle East & Africa.

The group's 'Other' business area, which includes Fashion & Accessories Maisons, reported stable sales compared to the prior-year period. Within this segment, Fashion & Accessories Maisons grew by 3 percent, with notable momentum from Peter Millar and Gianvito Rossi, while Watchfinder & Co. achieved double-digit growth.

Regional and distribution highlights

Richemont achieved growth across all geographic regions at constant exchange rates. Middle East & Africa posted the highest regional growth at 20 percent, driven by strength in the United Arab Emirates. Sales in Japan grew 17 percent due to strong local demand and supportive tourist spending. Americas revenue rose 14 percent, with all business areas contributing to the performance, while sales in Europe increased 8 percent, led by the UK and Italy, supported by domestic and tourist shoppers. Asia Pacific witnessed sales growth of 6 percent, with combined revenue from China, Hong Kong SAR, and Macau SAR up 2 percent.

Direct-to-consumer (D2C) channels remained the primary growth driver, with retail sales increasing 12 percent at constant rates to represent 72 percent of total group revenue. Wholesale sales rose 9 percent, while online retail saw a 5 percent increase.

Richemont continues to invest in the long-term growth prospects of its Maisons despite a complex macroeconomic environment characterised by rising material costs and volatile exchange rates, which continue to weigh on margins.