Richemont, owner of Buccellati, Cartier and other luxury brands, has announced a 4% increase in sales at both actual and constant exchange rates in fiscal 2025 (FY25), resulting in total sales of €21.39bn ($23.89bn) compared with €20.62bn in FY24.
This growth was primarily driven by performance from its Jewellery Maisons, which saw an 8% rise in sales at actual and constant exchange rates and an operating margin of 31.9%.
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The company experienced double-digit sales expansion across all regions except for Asia Pacific.
But the Specialist Watchmakers segment witnessed a downturn, with a 13% decrease in sales at actual and constant exchange rates and an operating margin of 5.3%.
Richemont’s operating profit for the year experienced a decline of 7%, falling from €4.79bn in FY24 to €4.47bn in FY25.
The company’s gross profit saw a modest increase of 2%, up to €14.32bn in FY25 from €14.04bn in the previous year.
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By GlobalDataProfit from continuing operations stood at €3.76bn, marking a slight decrease of 1% from the previous year. This figure includes an improvement in net finance costs by €125m to €53m.
The loss from discontinued operations totalled €1.01bn for the year, including a significant write-down of €954m on the net assets held for sale related to YNAP (the YOOX NET-A-PORTER group) and reflecting the valuation of Mytheresa shares as of 31 March 2025.
Consequently, Richemont’s profit for the year amounted to €2.75bn.
Its earnings per share on a diluted basis reached €4.671 in FY25, against €4.077 in the previous fiscal year.
Richemont chairman Johann Rupert stated: “Richemont delivered a robust performance for the financial year ended 31 March 2025. In a persistently uncertain macroeconomic and geopolitical environment, we maintained our focus on nurturing Maisons’ current and future growth, investing in our distribution network, manufacturing assets and quality craftsmanship.”
Mytheresa completed the acquisition of YNAP from Richemont in April 2025 after securing unconditional clearance from the European Commission.
