Richemont beats sales forecast as Cartier and luxury watches soar
Richemont, the Swiss luxury group that owns Cartier, exceeded expectations in its latest quarterly sales report, driven by strong demand for jewelry and watches. The Geneva-based company reported a 14% increase in sales for the July–September period, reaching 5.21 billion euros ($6.08 billion), surpassing analyst forecasts of 5.0 billion euros. The growth highlights a recovery in the high-end luxury market despite global economic uncertainties.
Sales in the Americas surged 20% after adjusting for currency effects, making it one of Richemont’s fastest-growing markets. In the Asia Pacific region, dominated by China, sales rose 10%. The United States, which accounts for 22% of Richemont’s sales, remains a key market amid ongoing tariff negotiations with Switzerland, News.Az reports, citing Reuters.
Richemont’s portfolio includes renowned watchmakers IWC, Piaget, Jaeger-LeCoultre, and jeweler Van Cleef & Arpels, helping the company navigate the recent luxury slump better than many of its peers. The positive results come as the U.S. and Switzerland edge closer to a trade deal aimed at reducing Swiss import tariffs, which could further support Richemont’s growth in the U.S. market.
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