Record Sales and Growth in Jewellery Maisons
Richemont achieved record sales of €21.4 billion, marking an all-time high for the group with a 4% increase at actual and constant exchange rates. The Jewellery Maisons, including Buccellati, Cartier, Van Cleef & Arpels, and Vhernier, saw an 8% sales increase, with all regions growing double digits except for Asia Pacific.
Strategic Investments
Richemont made significant investments to support long-term growth, including €500 million in CapEx for the distribution network and €400 million for manufacturing capacity. Additionally, €200 million was spent on acquiring prime location real estate in London.
Strong Cash Position
The company maintained a robust net cash position of €8.3 billion, reflecting a strong financial base for future investments or strategic initiatives.
Performance in Americas and Japan
Sales in the Americas increased by 15%, and Japan saw a 30% growth, indicating strong performances in these key regions.
Successful Leadership Transitions
Richemont successfully renewed its executive leadership and governance, ensuring stability and continuity in its strategic direction.