Richard Mille European Sales Decline
Richard Mille’s European sales fell 7% in 2025, dropping from CHF 302 million to CHF 280 million, while the Middle East market more than doubled its revenue, rising from CHF 102 million to CHF 218 million. Despite the regional slowdown, operating profit improved by 29%, increasing from CHF 141 million to CHF 182 million, and corporate boutiques in Munich, Istanbul and London reported better‑than‑expected year‑on‑year growth. The strong performance in the Gulf was driven by robust sales in Riyadh, even as the region faced geopolitical tensions, including attacks on major Gulf cities and a bombing in Saudi Arabia. British businessman Peter Harrison, through Redgrave Luxury, remains the principal owner of Richard Mille EMEA, controlling a territory that spans from London to the oil‑rich Gulf states, and together with his daughter Tilly, holds a combined net worth of £350 million according to the 2026 Sunday Times Rich List.
Buying Time Analysis: The story highlights the strategic importance of Richard Mille’s shifting sales dynamics, where a European decline is offset by a rapid Middle East surge, underscoring the brand’s resilience and the growing significance of Gulf markets.
