Richemont, the Swiss luxury group, reported a strong performance for its Jewellery Maisons in FY25, with sales rising 8% to €15.3 billion, reinforcing the sector’s role as the group’s main growth driver. The segment, comprising Cartier, Van Cleef & Arpels, Buccellati and the newly acquired Vhernier, delivered a €4.9 billion operating profit with a healthy margin of 31.9%, despite rising gold costs and a challenging Asia Pacific market.
Richemont’s jewellery sales were fuelled by iconic designs such as Cartier’s Love medium and Van Cleef & Arpels’ Perlée diamonds, along with impactful high jewellery collections and boutique openings in key markets including Riyadh, Amsterdam and New York.
Overall, Richemont reported €21.4 billion in sales, up 4%, though profitability was tempered by a 7% drop in operating income. Asia Pacific sales fell 13%, offset by strong double-digit gains in Europe, the Americas, Japan, and the Middle East.
Vhernier’s integration and investments in manufacturing signal Richemont’s continued commitment to expanding its high-end jewellery portfolio. Direct-to-client sales represented 84% of jewellery revenue, underlining the group’s strategic focus on branded retail.