Johann Rupert’s luxury giant is killing it
Johann Rupert-controlled Richemont has experienced a significant increase in sales in the final quarter of 2025.
Rupert owns approximately 10% of Richemont’s equity but holds over 50% of the voting rights, thereby exerting control over the company.
The majority of Rupert’s fortune is tied to his stake in the Switzerland-based luxury retailer.
The company has seen a strong end of 2025, with group sales rising by 11% in the final three months of the year compared to Q4 2024.
Richemont stated that all regions experienced solid growth, led by double-digit performances in the Americas, Japan, and the Middle East & Africa, against already demanding comparables in the comparable period.
America’s ongoing strength in local demand drove a 14% rise in sales, with all business areas and all main markets contributing to the regional performance.
In Europe, sales increased by 8%, driven by local demand and supportive tourist spending, particularly from North American and Middle Eastern clients.
The company’s Jewellery Maisons, Specialist Watchmakers, and fashion and accessories Maisons all performed positively over the quarter.
Most markets saw robust growth, especially in the UK and Italy. The Middle East and Africa posted the highest regional development, with sales up 20%, led by the strength in the UAE market.
Asia Pacific sales increased by 6%, with Japan recording a massive 17% increase, primarily driven by Jewellery Maisons.
All distribution channels contributed to the sales growth, with sales through the retail channel growing the most at 12%, with broad-based strength across regions and business areas.
Although retail represented 72% of Group sales, wholesale sales still rose by 9%, led by double-digit performances at both Jewellery Maisons and Specialist Watchmakers.
Best brands
The group’s four jewellery Maisons, Buccellati, Cartier, Van Cleef & Arpels and Vhernier, delivered a 14% increase in sales, with a successful festive season across all the Maisons.
“Both jewellery and watch categories grew strongly, led by iconic lines and fuelled by attractive novelties and impactful communication,” said Richemont.
Specialist Watchmakers reported a second consecutive positive quarter, with sales up 7% and growth across all regions, including double-digit performances in the Americas and the Middle East & Africa.
The group’s other business area, which includes Fashion & Accessories Maisons, recorded stable sales against an 11% growth rate in the prior year.
Watchfinder & Co. experienced double-digit growth, while sales at Fashion & Accessories Maisons increased by 3%, with notable momentum from Peter Millar and Gianvito Rossi.
When looking at the nine-month trading period ended 31 December 2025, sales increased by 10% at constant exchange rates and by 5% at actual rates.
At constant exchange rates, growth was broad-based across all regions, channels and business areas.
The group’s net cash position as of 31 December 2025 stood at €7.6 billion (R145 billion).
| Category | Segment | 2025 (€m) | 2024 (€m) | Movement (Constant Rates) | Movement (Actual Rates) |
|---|---|---|---|---|---|
| By region | Europe | 1,550 | 1,456 | +8% | +6% |
| Asia Pacific | 1,870 | 1,913 | +6% | −2% | |
| Americas | 1,740 | 1,647 | +14% | +6% | |
| Japan | 632 | 592 | +17% | +7% | |
| Middle East & Africa | 607 | 542 | +20% | +12% | |
| By distribution channel | Retail | 4,601 | 4,382 | +12% | +5% |
| Online retail | 413 | 419 | +5% | −1% | |
| Wholesale and royalty income | 1,385 | 1,349 | +9% | +3% | |
| By business area | Jewellery Maisons | 4,785 | 4,501 | +14% | +6% |
| Specialist Watchmakers | 872 | 867 | +7% | +1% | |
| Other | 742 | 782 | – | −5% | |
| Total | Total | 6,399 | 6,150 | +11% | +4% |
Loading ...