Richemont Group released its third-quarter performance report for the 2024/25 fiscal year, covering the three months ending December 31, 2024. The company reported a 10% YoY increase in sales at constant exchange rates across global markets. Sales in all regions outside of the Asia-Pacific region saw double-digit growth. However, in the Asia-Pacific region, Richemont experienced a 7% decline in sales, primarily due to an 18% drop in total sales in mainland China, Hong Kong, and Macau.

By category, Richemont’s jewelry business remained strong, with a 14% YoY sales increase during the reporting period, while its watchmaking division, which is heavily reliant on the Chinese market, recorded an 8% global sales decline. Brands such as Cartier, Van Cleef & Arpels, Vacheron Constantin, and A. Lange & Söhne are all part of the Richemont Group.