Richemont sustained strong sales momentum through the 2025 holiday season, offering a positive signal ahead of its fourth-quarter earnings.
Group sales grew 11% year-on-year at constant exchange rates to €6.4 billion in the third quarter of fiscal 2025, which ended December 31. This exceeded consensus expectations of an 8% rise. In the same period last year, the Swiss conglomerate’s sales grew 10%, lifted by a post-election shopping surge in the U.S. This quarter, sustained growth in jewelry and the U.S. market helped drive performance.
“This again shows that comparisons matter less than category and brand momentum. Jewelry is in strong shape, and Richemont dominates the category with its brands,” wrote Bernstein luxury goods analyst Luca Solca.
The luxury earnings season began earlier this week with Brunello Cucinelli reporting 12% revenue growth. Following Richemont, LVMH is set to report annual results later this month. Jefferies analysts noted: “Richemont’s beat should encourage long-term believers in the broader sector, even if this still appears to be a very U.S.-led dynamic.”
Richemont said sales in the Americas rose 14%, supported by “ongoing strength in local demand.” In Europe, sales increased 8%, “led by local demand and supportive tourist spending, particularly from North American and Middle Eastern clients.” The Asia-Pacific region grew 6%, including a 2% increase in Mainland China, Hong Kong, and Macau, confirming a stabilization after sales returned to growth there in the second quarter. Japan sales rose 17%, while the Middle East and Africa region posted the highest growth at 20%.
By division, jewelry—which includes Cartier and Van Cleef & Arpels—led with 14% growth, exceeding expectations of 10%. “Both jewelry and watches grew strongly, led by iconic lines and fueled by attractive novelties and impactful communication,” the company stated. Sales in Richemont’s specialist watchmakers division, featuring IWC Schaffhausen, Piaget, and Jaeger-LeCoultre, rose 7%, also beating expectations of flat sales and marking a second consecutive positive quarter. Fashion and accessories maisons, including Chloé, Montblanc, and Alaïa, saw a 3% increase, “with Pieter Mulier at Alaïa and Gianvito Rossi showing solid momentum,” Richemont noted.
Jewelry has remained resilient during the broader luxury slowdown, outperforming other segments. Richemont’s earnings help ease concerns among some investors that rising gold prices, along with renewed creativity and more accessible pricing in ready-to-wear and leather goods, could shift spending away from jewelry—potentially ending the category’s strong growth cycle.
“While these are valid concerns, there’s currently no evidence that jewelry’s rate of outperformance has been eroded,” Morgan Stanley managing director Édouard Aubin told Vogue Business ahead of the earnings season.
Frequently Asked Questions
Of course Here is a list of FAQs about Richemonts reported 11 sales increase in the third quarter designed to be clear and accessible
Beginner General Questions
1 What is Richemont
Richemont is a Swiss luxury goods holding company It owns a portfolio of prestigious brands most famously Cartier and Van Cleef Arpels in jewelry and brands like IWC JaegerLeCoultre and Montblanc in watches and other accessories
2 What does sales increased by 11 actually mean
It means that in that specific threemonth period Richemont sold 11 more in value compared to the same threemonth period the year before This is a measure of revenue growth
3 Is an 11 increase good
Generally yes especially for a large established company in the luxury sector It indicates strong consumer demand and successful business execution particularly in an uncertain economic climate
4 Why is this news important
Richemont is a bellwether for the global luxury industry Its performance gives insights into consumer spending trends especially among highnetworth individuals and can influence the stock market and investor sentiment towards other luxury companies
5 Where did this growth come from
While the official report gives details growth typically comes from a combination of factors strong sales in key regions high demand for their iconic jewelry pieces and recovery in watch sales and directtoconsumer channels
Advanced InvestorFocused Questions
6 Was this 11 growth in line with expectations
This is a key question for analysts The answer depends on what the market consensus was The news is viewed more positively if it beats expectations and negatively if it misses them
7 Was the growth driven by volume price or both
Luxury brands often grow by selling more items and by raising prices Richemonts growth particularly in jewelry is often attributed to value growth selling higherpriced pieces and strategic price increases not just more units
8 How did different regions perform
The geographic breakdown is