Richemont's Record Year Can't Shake Its China Risk

SOUTH AFRICA · MARKETS

Key Facts

—Record year: Richemont, controlled by South African billionaire Johann Rupert, posted revenue of €22.4 billion ($24.2 billion) for the year to 31 March 2026, up 11% at constant exchange rates.

—Profit jump: Net profit rose 27% to €3.5 billion ($3.8 billion), beating analysts who expected gold prices and US tariff uncertainty to weigh more heavily.

—China is the soft spot: Asia Pacific is the group’s single biggest market, yet it was the only region left out of a double-digit jewellery surge.