The luxury goods group Richemont, led by South African billionaire Johann Rupert, has reported a strong increase in sales for the financial year.
Luxury goods giant Richemont, controlled by South African billionaire Johann Rupert, posted sales growth despite mounting pressure from global trade tensions, weakening consumer demand, and surging gold prices that continue to weigh on the luxury jewellery sector.
The Cartier owner reported resilient performance across key markets, underscoring the strength of high-end demand even as tariff uncertainties and elevated raw material costs squeeze margins across the broader luxury industry.
Rising gold prices, in particular, have increased production costs for jewellery makers, while shifting trade policies and slowing global growth have created fresh challenges for international luxury brands.
Despite facing heavy global economic challenges, the company managed to grow its total revenue to €22.4 billion, which is an 11% increase at constant exchange rates.
