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Richemont, the Swiss luxury group controlled by South African billionaire Johann Rupert, reported sales of $20 billion for the nine months ended December 31, 2025. The performance was driven primarily by the jewelry segment, which remained the group’s largest and fastest-growing business, alongside consistent growth across its retail network.
During the nine-month period, Richemont under Rupert posted nine-month sales of €17 billion ($20 billion) from €16.2 billion ($18.84 billion) the prior year, a 10 percent increase in sales at constant exchange rates, and a 5 percent rise at actual rates, highlighting strong demand for its high-value products.
Its Jewelry Maisons remained the primary growth engine, generating €4.78 billion ($5.56 billion) in third-quarter sales alone, with double-digit growth across the nine months. Third-quarter sales reached €6.4 billion (7.44 billion), up 11 percent at constant exchange rates, reflecting continued strength in Richemont’s most valuable segments.
Jewelry leads Q3 growth surge
Jewelry Maisons led the quarter, posting 14 percent growth at constant exchange rates, with Cartier, Van Cleef & Arpels, Buccellati, and Vhernier contributing strongly. Specialist Watchmakers delivered steady improvement, with a 7 percent gain, while Fashion & Accessories Maisons grew modestly by 3 percent. Other segments remained largely flat, impacted by currency headwinds and ongoing cost pressures.
Retail remained the backbone of Richemont’s revenue, accounting for approximately 72 percent of sales, and rose 12 percent at constant rates to €4.6 billion ($5.35 billion) in Q3, supported by broad gains across Europe, the Americas, Japan, and the Middle East. Wholesale and online retail expanded modestly, contributing to Richemont’s diversified channel strategy.
Richemont strengthens $8.8 billion cash reserves
All major regions recorded growth at constant exchange rates. The Americas (+14 percent), Japan (+17 percent), and the Middle East & Africa (+20 percent) posted notable double-digit gains, while Europe rose 8 percent and Asia Pacific advanced 6 percent despite currency pressures; these results underscore Richemont’s global resilience and brand appeal.
These strong results left Richemont with a robust net cash position of €7.6 billion ($8.83 billion), thus positioning the group to continue investing in Maison expansion and strategic initiatives, even amid rising material costs.
Rupert guides Richemont with heritage focus
Johann Rupert, who owns 10.18 percent of Richemont but controls 51 percent of voting rights, continues to emphasize the group’s focus on heritage brands celebrated for craftsmanship and timeless design. His stake in Richemont cements his position among Africa’s billionaires.
The nine-month performance, driven by strong Q3 momentum, demonstrates Richemont’s reliance on high-value jewelry, resilient retail channels, and a diversified global footprint under Rupert. Continued gains in key regions, combined with steady watchmaker growth, suggest a solid close to the fiscal year despite ongoing cost and currency headwinds.
