Richemont Reports $26 Billion in Annual Revenue, Jewelry Sales Surge 14%

Richemont, the luxury group behind brands like Cartier, Van Cleef & Arpels, and Piaget, announced a 13% rise in sales for Q4, leading to an annual revenue of about $26 billion (22.4 billion euros), which reflects an 11% increase compared to the previous year. Sales from jewelry labels such as Cartier, Van Cleef & Arpels, Buccellati, and Vhernier collectively grew by 14%, totaling $19.2 billion (16.5 billion euros). In response to rising gold prices and adverse currency fluctuations, the company adopted "measured price increases." Sales from watch brands, including A. Lange & Söhne, Jaeger-LeCoultre, and Vacheron Constantin, reached approximately $3.6 billion (3.1 billion euros), marking a 1% increase year-over-year, with positive growth signs outside China. Fashion and accessories saw a 3% rise to $3.1 billion (2.7 billion euros). Chairman Johann Rupert dismissed speculation about selling Jaeger-LeCoultre, labeling it "nonsense" and emphasizing its significance as "the watchmaker's watchmaker." He affirmed the company's robust financial health and efficient supply chain.