Richemont, the luxury goods conglomerate, announced a 10% year-over-year increase in sales for the third quarter of the fiscal year, reaching a record 6.15 billion euros (approximately $6.33 billion). The results, covering the period ending December 31, 2024, were disclosed in an earnings release on Thursday.
The company’s standout performance was fueled by its jewelry division, which saw a 14% surge in sales, totaling 4.5 billion euros. Richemont’s other business segment, which includes its fashion and accessories brands, also posted strong growth, with sales rising 11% to 782 million euros.
However, not all divisions experienced positive trends. The specialty watchmaker segment reported an 8% decline in sales, which Richemont attributed to a downturn in the Asia Pacific region.
The record-breaking quarter underscores the resilience of Richemont’s jewelry business, which continues to drive the company’s overall growth despite challenges in other areas.
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