Richemont Lifts Annual Sales 11% to €22.4 Billion as Jewelry Margins Reach 30.5%
Updated
Updated · Business Insider Africa · May 26
Richemont Lifts Annual Sales 11% to €22.4 Billion as Jewelry Margins Reach 30.5%
5 articles · Updated · Business Insider Africa · May 26
€22.4 billion in fiscal-year sales marked an 11% rise at constant exchange rates for Richemont, with fourth-quarter growth accelerating to 13% through March 31.
Jewelry and watches drove the outperformance, generating €16.5 billion in combined sales, while the Jewelry Maisons lifted operating profit to €5 billion and margin to 30.5%.
All regions and channels expanded, led by double-digit growth in the Americas and Middle East & Africa; direct-to-client sales rose to 77% of group revenue.
€4.5 billion in group operating profit and €3.5 billion in net profit showed Richemont absorbing higher gold costs, currency pressure and additional US duties through strong demand and cost discipline.
€8.5 billion in net cash leaves Cartier owner Richemont standing out in a luxury sector still facing trade tensions and weaker consumer sentiment.
Richemont is booming while rivals bust, but can its jewelry 'supercycle' survive escalating global turmoil?
As competitors struggle, has Richemont discovered the secret to winning in luxury's new 'hourglass economy'?