Gold saves Richemont. The manufacturer of jewelry Cartier and Van Cleef & Arpels announced, Friday, May 16, having completed its financial year 2024-2025, at the end of March, having achieved a turnover of 21.4 billion euros, up 4 % compared to the previous financial year. The Swiss group saved furniture thanks to its jewelry sales, an increase of 8 %, to 15.3 billion euros, which represent 54 % of its world sales. And, by posting growth of 7 % in the first three months of 2025, it does better than its peers, including LVMH, the world's number one of luxury, observe financial analysts.
Richemont has probably benefited from the attraction of gold jewelry, a refuge value in the eyes of wealthy customers, whose price has soared 30 % since 2020. The situation is quite different on the watchmaking market: Richemont watches sales plunged 13 % during the year 2024-2025, at 3.3 billion euros. Because this market remains in crisis, in China more than elsewhere. Even if the country remains the second outlet for Swiss watchmaking exports, behind the United States, according to the list established by the Swiss watch federation, the sales of Richemont watches (Balme & Mercier, Vacheron Constantin or Piaget) fell by 27 %.
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Source: Lemonde