Richemont Reports Record Sales Growth, Boosting Luxury Market Optimism

The Cartier owner's 10% third-quarter revenue surge signals potential recovery for the global luxury sector despite ongoing challenges in China.

Richemont reported a 10% increase in third-quarter sales, reaching €6.2 billion, its highest quarterly revenue ever, surpassing analysts' expectations of 1% growth.
Jewelry sales, including Cartier and Van Cleef & Arpels, led the growth with a 14% rise, while watch sales experienced smaller declines than anticipated.
The Americas and Europe saw double-digit sales increases of 22% and 19%, respectively, driven by strong local demand and tourist spending from regions like the Middle East.
China's economic struggles continued to weigh on the luxury market, with Richemont's sales in Mainland China, Hong Kong, and Macau declining by 18%.
The positive results lifted Richemont's stock by nearly 16% and spurred gains across the luxury sector, including LVMH and Hermès, as investors expressed optimism for industry recovery.