Swiss luxury group Richemont reported record full-year sales of €20.6bn ($22.4bn) in 2024, with Cartier owner's shares rising 6.3%.

Swiss luxury group Richemont reported record full-year sales of €20.6bn ($22.4bn) in 2024, despite a slowdown in Asia-Pacific spending, with Cartier owner's shares rising 6.3%. Group sales increased 3% to an all-time high at actual exchange rates, despite a weakening outlook for luxury brands. Fourth-quarter sales fell 1% to €4.8bn, driven by a slowdown in Asia-Pacific. Richemont’s net cash pile also grew by 14% to €7.4bn.

May 17, 2024
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