Swiss luxury goods conglomerate Richemont reported a 6% increase in sales for the first quarter of 2025, reaching €5.41 billion, slightly below the expected €5.44 billion. The growth was primarily driven by an 11% rise in its jewelry division, led by strong performances from Cartier and Van Cleef & Arpels. This growth outpaced the consensus estimate of 8.6% for the jewelry segment. In contrast, Richemont's watch retail division experienced a 7% decline. Geographically, double-digit sales increases in Europe, the Americas, and the Middle East & Africa offset a sales decline in Japan and stable sales in the Asia Pacific region. Despite a broader slowdown in the luxury market, Richemont demonstrated resilience, supported by continued demand for high-end jewelry among affluent consumers. The company is chaired by Johann Rupert.