SA billionaire Johann Rupert’s Richemont posts $12.3 billion half-year sales

Richemont, the Swiss luxury group controlled by South African billionaire Johann Rupert, reported sales of $12.3 billion for the first six months ended Sept. 30, 2025. This was driven by double-digit growth across all regions, with continued strength in Europe and Asia and an acceleration in second-quarter demand, which lifted constant-currency sales by 14 percent.

Retail drives nearly 70% of Richemont revenue

During the first six months of its fiscal year, Richemont posted a 10 percent increase in sales at constant exchange rates and a 5 percent rise at actual rates, growing from €10.08 billion ($11.71 billion) to €10.62 billion ($12.33 billion). Reflecting gains from the group’s multiple growth engines and its continued strength as a leading force in the global luxury market.

Retail drove Richemont’s growth in the first half of 2025, thus accounting for 70 percent of revenue as boutique sales rose across most regions. Jewelry remained the group’s strongest segment, with Cartier, Van Cleef & Arpels, Buccellati and Vhernier lifting combined sales to €7.7 billion ($8.95 billion), up 9 percent at actual rates and 14 percent at constant rates.

High-jewelry events in Europe and Asia provided additional support. Specialist Watchmakers saw a 6 percent decline, with weaker demand in China, Hong Kong, Macau and Japan partly offset by double-digit growth in the Americas.

Cash reserves stay robust after YNAP sale

The group’s net cash position remained strong at €6.5 billion ($7.55 billion), with €1.9 billion ($2.21 billion) cash flow generated from operating activities and after €600 million ($697.26 million) cash transferred upon closing of the sale of YNAP to LuxExperience.

Although regional trends were mixed: the Americas climbed 18 percent, Europe advanced 11 percent, and the Middle East and Africa delivered a 19 percent jump on robust local and tourist spending. Asia Pacific rose 5 percent, buoyed by a stronger second quarter, while Japan ended 4 percent lower. Online retail grew 7 percent and wholesale sales increased 9 percent, keeping both channels stable in contribution.

Cartier, Buccellati fuel Richemont growth

Johann Rupert, who owns 10.18 percent of Richemont but controls 51 percent of its voting rights, has long urged the group to focus on heritage brands celebrated for craftsmanship and timeless design. The strong results from Cartier, Van Cleef & Arpels, Buccellati and Vhernier, alongside broad retail gains across Europe, the Americas and the Middle East, underline Richemont’s resilience, as demand in parts of Asia and the watches segment remains subdued

The latest half-year results reinforce a strategy that has guided the group for years: prioritize the Maisons with deep heritage, invest in high-level craftsmanship and keep the business centered on high-value jewellery. Rupert’s net worth remains above $16 billion, solidifying his position as South Africa’s wealthiest individual.