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%
3 articles · Updated · Business Insider Africa · May 26
Summary
€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.