Richemont Sparkles with 11% Sales Rise, Driven by Jewelry Demand

Richemont closes 2025 with a firm pulse. The Swiss conglomerate posted sales of €6.39 billion in the third quarter of its 2025/2026 fiscal year, ending December 31st, 2025. At constant exchange rates, turnover grew by 11%, while at current exchange rates, the advance was limited to 4%, with currencies again conditioning the situation by region.

In the quarter in which the Christmas campaign increases volume and puts positioning to the test, the jewelry segment once again set the pace. The division posted sales of €4.78 billion, up 14% at constant exchange rates , and the group described the year-end as “very solid.“

For its part, the specialized watchmaking category also maintained its tone. The division has chained a second consecutive quarter of growth, with sales of €872 million and growth of 7% at constant exchange rates, while the other businesses division has remained stable at constant exchange rates. Fashion and accessories posted a 3% increase, thanks to the strength of Peter Millar and Gianvito Rossi.

Richemont, by market: Americas and Japan take the lead

During the period, growth was distributed by geography at constant exchange rates, with double-digit gains in the Americas, Japan and the Middle East and Africa. The group has also focused on the starting point. In the same quarter last year, the Americas region grew 22% and Europe and Japan each advanced 19%.

The Americas region saw sales rise to €1.74 billion, an increase of 14% at constant exchange rates. The company attributed this performance to the strength of local demand and the contribution of all business areas and main markets.

Europe closed the quarter with sales of €1.55 billion, up 8% at constant exchange rates. The group has linked its progress to local demand and tourist spending, with the United Kingdom and Italy among the most dynamic markets.

Asia Pacific grew by 6% at constant exchange rates to 1.87 billion euros, although at current exchange rates it declined by 2%. In detail, China, Hong Kong and Macau combined advanced by 2%, “led” by Hong Kong. The group also highlighted the performance of South Korea and Australia; while Japan reached €632 million, up 17% at constant exchange rates, and the Middle East and Africa added €607 million, up 20% at constant exchange rates.

Direct channel gains weight and retail sustains the quarter

Retail increased by 12% at constant exchange rates, to €4.6 billion, and accounted for 72% of group sales in the quarter. Beyond the store perimeter, Richemont’s presentation has placed the direct-to-customer business at 78% of sales, stable compared to the same quarter of the previous year. By division, this weight has risen to around 85% in jewelry, standing at around 60% in specialized watchmaking.

The wholesale and licensing channels totaled €1.385 billion, up 9% at constant exchange rates, while online retail reached 413 million euros and advanced 5% at constant exchange rates.

In the nine-month cumulative period, from April to December 2025, Richemont increased sales 10% at constant exchange rates and 5% at current exchange rates, to €17 billion. In that period, jewelry grew 14% at constant exchange rates, while specialized watchmaking and other divisions advanced 1% each. The group closed December 31st, 2025 with a net cash position of €7.6 billion, compared to 7.9 billion a year earlier. Richemont will publish its results for the year ended March 31st, 2026 on May 22nd, 2026.