Richemont posts record Q3 sales, led by jewelry division [Yahoo! Finance]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
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Source: Yahoo! Finance
Dive Brief: Richemont reported a year-over-year sales uptick of 10% to a record 6.15 billion euros , or approximately $6.33 billion, for the third quarter of the year ended Dec. 31, 2024, according to a Thursday earnings release. The strong showing was driven by the jewelry division, which posted a 14% increase in sales to 4.5 billion euros. Sales in the company's other business, which includes its fashion and accessories houses, rose 11% to 782 million euros. Meanwhile, sales dropped 8% in Richemont's specialty watchmaker division, which the company attributed to a business decline in the Asia Pacific region. Dive Insight: Richemont's solid quarter speaks to a trend outlined in a recent report from McKinsey , which noted that jewelry could be a bright spot for the luxury sector moving forward. The third quarter was especially notable for Richemont when set against jewelry sales that rose a year earlier. Sales in the Americas rose 22% to 1.6 billion euros for Q3, while sa
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