Richemont UK outperforms rival groups with 5% rise in sales
Richemont's watch and jewelry division has achieved significant growth in the UK, with sales increasing by 5.3% to £277 million ($372 million) for the financial year ending March 1, 2025. This surge in turnover is accompanied by a remarkable 155% rise in operating profit, reaching £32 million ($43 million). The results encompass several luxury brands, including IWC, Panerai, and Vacheron Constantin, while excluding Cartier and Watchfinder & Co., which report separately. In contrast to its competitors, LVMH and Swatch Group, both of which experienced declining sales, Richemont's performance stands out, showing a 370% increase in sales since 2014. This growth is particularly notable considering that LVMH achieved only a 46% increase during the same period. Additionally, the luxury watch market remains dominated by brands like Rolex and Patek Philippe, which continue to sell impressively, further highlighting Richemont's strong position in a challenging market environment.
