South African billionaire Johann Rupert’s luxury group, Richemont, has posted impressive half-year results, with sales reaching $12.3 billion for the six months ending September 30, 2025. The growth was driven by robust retail performance and strong demand for high-end jewelry across Europe, the Americas, and the Middle East, offsetting weaker trends in parts of Asia.
Retail remained the primary driver of revenue, accounting for nearly 70 percent of total sales. Iconic brands under the Richemont umbrella, Cartier, Van Cleef & Arpels, Buccellati, and Vhernier, recorded combined sales of €7.7 billion ($8.95 billion), reflecting a 9 percent increase at actual exchange rates and 14 percent growth at constant currency. High-jewelry events in Europe and Asia further bolstered performance.
Specialist watchmakers within the group saw a 6 percent decline, largely due to softer demand in China, Hong Kong, Macau, and Japan, though the Americas posted double-digit growth. Online retail grew 7 percent, while wholesale channels rose 9 percent, maintaining steady contributions to overall revenue.
Richemont’s net cash position remained strong at €6.5 billion ($7.55 billion), supported by €1.9 billion ($2.21 billion) in operating cash flow and €600 million ($697.26 million) from the sale of Yoox Net-A-Porter (YNAP) to LuxExperience.
Johann Rupert, who controls 51 percent of Richemont’s voting rights, has long emphasised a focus on heritage brands celebrated for craftsmanship and timeless design. The latest results underscore the group’s strategy of prioritising high-value jewelry, investing in artisanal skills, and maintaining resilience amid mixed regional performance.
Rupert’s personal net worth remains above $16 billion, cementing his position as South Africa’s wealthiest individual. The strong half-year performance demonstrates Richemont’s ability to navigate global market shifts while capitalising on its iconic brands and diversified retail footprint.
