Despite a sluggish luxury market, Richemont delivered a record-breaking $7.43 billion USD in the third quarter. The 11% revenue increase exceeded market expectations, proving that demand for high-end jewelry remains strong during the holiday shopping season.
The U.S. market led with 14% growth, while even stronger gains were seen in Japan (17%) and Middle East (20%). Despite high gold prices and tariffs on Swiss exports, the jewelry division rose 14%, and the specialist watch division also showed a 7% increase, evidence of the continued appeal of hard luxury.
A key factor was the Hong Kong market, which was the main driver of demand in the quarter. While other regions in Asia faced challenges, Hong Kong showed a strong return in tourism and local spending, which directly contributed to the group's overall results.
Buyers favored Richemont's jewelry houses, particularly Cartier and Van Cleef & Arpels, which are considered investment-grade in the region. This trend helped offset concerns about a luxury slowdown in the broader Asian market.
Richemont further cemented its cultural influence through A-list celebrity ambassadors, bringing intense brand heat to the red carpet this awards season. With a combination of strong performance, strategic visibility, and disciplined cost management, Richemont clearly enters 2026 with momentum and confidence.
