South African Billionaire Johann Rupert's Richemont Posts 6.3 Billion In Q1 Sales

Richemonts jewelry sales surged 11 percent, reaching 4.55 billion, driven by robust demand across major markets despite weaker watch performance in China and Japan.

The Americas led regional growth wit h a 17 percent sales increase, while Europe gained 11 percent. Asia Pacific was flat, and Japan declined 15 percent amid currency pressures.

Retail contributed 69 percent of revenue, climbing 6 percent. Online sales matched retail growth, underscoring Richemonts strength in direct-to-consumer channels.

Richemont, the Swiss luxury group controlled by South African billionaire Johann Rupert, reported first-quarter sales of 6.3 billion for the three months ended June 30, 2025. The performance was driven by resilient demand for high-end jewelry across Europe, the Americas, and the Middle East, helping offset softer trends in Asia and a decline in watch sales.

During the opening quarter of its fiscal year , the conglomerate posted a 6 percent increase in sales at constant exchange rates and a 2.73 percent rise at actual rates, growing from 5.27 billion 6.12 billion to 5.41 billion 6.29 billion. The results underscore Richemonts continued strength as a leading force in the global luxury market.

Jewelry remained Richemonts core business, with sales from Cartier, Van Cleef Arpels, Buccellati, and Vhernier rising 11 percent to 3.91 billion 4.55 billion. Specialist Watchmakers fell 7 percent as demand softened in China, Hong Kong, and Japan.

Regional trends varied. The Americas jumped 17 percent on strong spending, Europe gained 11 percent with solid local and tourist demand, and the Middle East and Africa rose 17 percent, led by the UAE. Asia Pacific was flat overall, as a 7 percent drop in Greater China was balanced by growth elsewhere. Japan declined 15 percent amid a strong yen and tough comparisons.

Retail accounted for 69 percent of revenue, growing 6 percent. Online sales matched that pace, while wholesale and royalty income also increased 6 percent despite mixed market conditions.