Richemont shines as Cartier sales sparkle amid luxury slowdown

Key topics:Richemont jewelry sales surged 11%, beating expectations.Strong demand for Cartier offsets China luxury slowdown.Americas, Europe sales up; watch division down 7%..Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here.The auditorium doors will open for BNIC#2 on 10 September 2025 in Hermanus. For more information and tickets, click here..By Angelina Rascouet.Richemont posted better-than-expected sales as wealthy shoppers snapped up Cartier rings and bracelets, defying a wider downturn for luxury goods.Sales at the jewelry division, Richemont’s largest, surged 11% at constant exchange rates in the quarter ending in June, the Swiss luxury group said Wednesday. Analysts had forecast a gain of 8.6%. Overall, sales climbed 6%, ahead of expectations.The luxury industry overall is struggling with a slowdown caused in part by Chinese shoppers reining in costly purchases. Richemont has withstood that slump better than most peers, helped by the appeal of its well-known jewelry brands, notably Cartier and Van Cleef & Arpels. In times of economic uncertainty, high-end jewelry is often viewed as a better store of value than pricey apparel and leather goods..“Richemont has delivered reassuring results, particularly when compared to other luxury players,” Vontobel analyst Jean-Philippe Bertschy said in a note. “The company’s dominance and robust growth in the jewelry segment remain impressive.” .Read more:. LVMH chair Arnault buys into Richemont – ’hier kom ‘n ding’: Andrea Felsted.The company’s shares rose as much as 2.4% in early Swiss trading, bringing the gain this year to about 12%.Revenue in the Americas and Europe rose 17% and 11%, respectively, during the period, helped by spending from tourists in Europe and local demand. The region that includes China was flat, an improvement from the previous three months when sales dropped 7%.Richemont’s specialist watchmakers division, which includes labels such as Jaeger-LeCoultre and Piaget, saw sales drop 7%, in line with estimates..© 2025 Bloomberg L.P.

Richemont shines as Cartier sales sparkle amid luxury slowdown

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