The performance was delivered against a challenging macroeconomic backdrop and strong prior-year comparatives, with growth across all regions and distribution channels. Double-digit increases in the Americas, Japan and the Middle East & Africa underpinned the result.
The Group’s Jewellery Maisons (Buccellati, Cartier, Van Cleef & Arpels and Vhernier) led growth, posting a 14% sales increase at constant exchange rates. Demand remained strong across jewellery and watch categories, supported by iconic collections, new launches and festive-season trading, with the strongest growth in the Americas, Japan and the Middle East & Africa.
Specialist Watchmakers recorded a second consecutive quarter of growth, with sales up 7% at constant exchange rates and double-digit increases in the Americas and the Middle East & Africa. The ‘Other’ business area delivered stable sales overall, with Fashion & Accessories up 3%, driven by momentum at brands including Peter Millar and Gianvito Rossi.
Regionally, Europe reported 8% growth at constant exchange rates, supported by local demand and tourist spending, particularly from North American and Middle Eastern visitors. Sales in the Americas rose 14%, while the Middle East & Africa delivered the strongest regional performance, up 20%, led by the United Arab Emirates.
Asia Pacific sales increased 6% at constant exchange rates, with growth at Jewellery Maisons and Specialist Watchmakers. Sales in China, Hong Kong and Macau combined rose 2%, led by Hong Kong, while Australia and South Korea posted strong growth. Japan recorded a 17% increase, driven primarily by strong local demand at the Jewellery Maisons and supportive tourist spending.
All distribution channels contributed to growth. Retail sales rose 12% at constant exchange rates and represented 72% of Group sales. Wholesale increased 9%, while online retail sales grew 5%, led by jewellery.
For the nine months to December 31, 2025, Richemont reported sales of €17 billion, up 10% at constant exchange rates and 5% at actual exchange rates. The Group ended the period with a net cash position of €7.6 billion.
