Swiss luxury giant Richemont – owner of Cartier and other high-end brands – delivered an impressive performance in its third-quarter results, significantly exceeding market expectations, according to Diamond World.
The report states that Richemont’s luxury sales saw a 10% year-over-year increase, reaching €6.2 billion ($6.37 billion) for the three months ending in December. This figure far outpaced analysts’ forecasts, which predicted a modest 1% growth.
While sales in China declined by 18%, strong performances in the U.S. and Japan helped offset the drop, contributing to Richemont’s overall positive momentum. Despite the strong quarter, the company has not provided forward-looking guidance but will continue investing in marketing and exclusive in-store experiences to attract high-net-worth clientele.
Investor confidence also surged, with Richemont’s shares jumping 7%, signaling renewed optimism in the luxury sector.