From Yahoo Finance: 2025-05-16 14:27:00

Luxury giant Richemont founder Johann Rupert shared advice and unveiled a 4 percent increase in full-year sales to 21.4 billion euros. Despite strong performance, China underperformed for Richemont in the fiscal year, with Asia-Pacific down 13 percent. The Americas saw a 16 percent sales increase, now representing 25 percent of revenue.

Rupert expressed confidence in China’s recovery, noting the country’s ingenuity and manufacturing muscle. He highlighted the shift towards locally made electric vehicles and the unstoppable growth of China. Richemont remains cautious about potential U.S. tariffs, holding off on substantial price increases to maintain value for customers.

Richemont raised prices slightly at Cartier and Van Cleef & Arpels, aiming to balance value for clients. Rupert emphasized the importance of sensitivity towards loyal local clients and criticized luxury competitors for drastic price hikes post-lockdown. Richemont’s jewelry sales grew 11 percent in the fourth quarter, with direct-to-client transactions accounting for 84 percent of total sales. The luxury retail scene saw big openings at Dubai Mall and South Coast Plaza for Cartier, a new Van Cleef & Arpels boutique on Madison Avenue, and a new Buccellati flagship in Riyadh.

Buccellati has exceeded expectations, becoming profitable three years earlier than projected, thanks in part to a thriving homeware line. Richemont worked closely with the founding family, calling them a valuable asset.

Richemont sold Yoox Net-a-porter to Mytheresa, with a net cash position of 555 million euros and no financial debt. Overall sales for Richemont reached 21.4 billion euros in fiscal 2025, making it one of the world’s largest buyers of gold.

The “other” division of Richemont, including fashion brands, Watchfinder, and watch components, saw a 7 percent increase in sales to 2.79 billion euros. Alaïa and Peter Millar experienced strong growth, with double-digit increases in ready-to-wear sales.

Full-year operating profit for Richemont fell 7 percent to 4.47 billion euros, with a 1 percent decrease in profit from continuing operations. Richemont shares closed up 7 percent at 165.7 Swiss francs on Friday.

Read more: Johann Rupert Talks Gold, Geopolitics and Trump Tariffs as Richemont Jewelry Sales Surge in 2025