Switzerland-based luxurious items holding firm Richemont has reported group gross sales of €21.4 billion (~$23.97 billion) in 2025 ended March 31, reflecting up 4 per cent year-over-year (YoY) on each precise and fixed change charges.
Working revenue decreased by 7 per cent to €4.5 billion and working margin diminished 240 foundation factors (bps) to twenty.9 per cent. In the meantime, the gross margin declined by 120 bps to 66.9 per cent.
Richemont has reported gross sales of €21.4 billion (~$23.97 billion) in 2025, up 4 per cent YoY, with sturdy retail and direct-to-client development offsetting Asia Pacific weak point.
Working revenue fell 7 per cent to €4.47 billion, whereas web revenue rose to €2.75 billion (~$3.08 billion).
Key milestones included the YNAP sale, Vhernier acquisition, and model expansions.
The revenue from persevering with operations was marginally decrease at €3.76 billion, down 1 per cent YoY, whereas losses from discontinued operations improved to €1.01 billion primarily because of a non-cash write-down of Yoox Web-A-Porter (YNAP)—an enchancment from the €1.3 billion loss reported within the first half of 2025.
Total, the group recorded a revenue of €2.75 billion (~$3.08 billion) for the yr, up from €2.36 billion the earlier yr. Diluted earnings per ‘A’ share / 10 ‘B’ shares stood at €4.671, a rise from €4.077 in 2024, Richemont mentioned in a press launch.
Retail gross sales, representing 70 per cent of whole group, grew by 6 per cent YoY at precise change charges throughout all areas besides Asia Pacific. In the meantime, on-line retail gross sales, which exclude gross sales made by YNAP, grew by 12 per cent.
In whole, direct-to-client gross sales accounted for 76 per cent of whole group gross sales. Wholesale gross sales, representing 24 per cent of the overall, have been 3 per cent decrease than the prior yr with the decline in Asia Pacific being partly mitigated by development in different areas.
For the total yr, most areas achieved double-digit development at each precise and fixed change charges, greater than offsetting the decline in Asia Pacific, notably in China. Europe grew by 10 per cent, the Americas by 16 per cent, Japan by 25 per cent, and the Center East & Africa by 15 per cent.
Section-wise, Alaia recorded one other yr of sturdy development, and Peter Millar maintained its strong momentum. Total, ready-to-wear gross sales rose by double-digits throughout the Maisons, with notably an encouraging efficiency from Chloe. The working consequence was a €102 million loss for the yr, leading to a margin of -3.7 per cent. Inside this, trend and equipment Maisons posted a -2 per cent working margin when excluding focused stock provisioning.
Upon closing the transaction, Richemont bought YNAP to Mytheresa, which held a money place of €555 million and no monetary debt. In return, Richemont obtained shares representing 33 per cent of the totally diluted share capital of the newly mixed entity, LuxExperience from Could 1, 2025. As a part of the settlement, Richemont additionally prolonged a €100 million revolving credit score facility to assist YNAP’s company necessities.
“We continued to invest in future growth by further strengthening our distribution network, enhancing our manufacturing capacity, and contributing to the nurturing and preservation of unique artisan skills,” mentioned Johann Rupert, chairman of Richemont. “We also delivered on several strategic fronts, successfully completing the acquisition of Vhernier, and enabling Gianvito Rossi to further expand its brand globally, after having joined the Group last year. We are also pleased to have found a good home for YNAP, whose strengths Mytheresa will harness to create a new global leader in digital luxury.”
“With a renewed leadership team and governance structure, the completion of seamless management transitions across several Maisons, and our teams of talented professionals committed to creativity and innovation, we are well-positioned to guide Richemont through its next phase of development,” added Rupert. “As I have said before, ongoing global uncertainties will continue to require strong agility and discipline.”
