Operating profits decreased by € 4.5 billion by 7 percent and the operating margin reduced 240 basic points (BP) to 20.9 percent. Meanwhile, the gross margin decreased by 120 bp to 66.9 percent.
Richemont has reported sales of € 21.4 billion (~ $ 23.97 billion) in 2025, an increase of 4 percent year -on -year, with a strong weakness of retail and direct growth to client from Asia Pacific. Operating profits fell 7 percent to € 4.47 billion, while net earnings increased to 2.75 billion euros (~ $ 3.08 billion). The key milestones included the Ynap sale, the acquisition of Vhernier and the brand's expansions.
The gain of continuous operations was marginally lower at € 3.76 billion, 1 percent lower, while the losses of discontinued operations improved to 1.01 billion euros mainly due to a non-monetary writing of YOOX NET-A-PORTER (YNAP), an improvement from the loss of € 1.3 billion reported in the first half of 2025.
In general, the group registered a gain of € 2.75 billion (~ $ 3.08 billion) for the year, compared to 2.36 billion euros the previous year. The profits diluted by the actions of 'A' Share / 10 'B' were € 4,671, an increase of € 4.077 in 2024, Richemont said in a press release.
Retail sales, which represent 70 percent of total Group, grew by 6 percent year -on -year to real exchange rates in all regions, except Pacific Asia. Meanwhile, online retail sales, which exclude sales made by Ynap, grew by 12 percent.
In total, direct sales to customer accounted for 76 percent of the sales of total groups. Wholesale sales, which represent 24 percent of the total, were 3 percent lower than the previous year, with the decrease in Pacific Asia, partly mitigated by growth in other regions.
Throughout the year, most regions achieved a two -digit growth at real and constant exchange rates, rather than compensating the decrease in Pacific Asia, particularly in China. Europe grew by 10 percent, the Americas by 16 percent, Japan by 25 percent, and the Middle East and Africa by 15 percent.
As for the segment, Alaia registered another year of strong growth, and Peter Millar maintained her solid boost. In general, sales for use increased with two digits in the maisons, with significantly an encouraging performance of Chloe. The operational result was a loss of 102 million euros for the year, which resulted in a margin of -3.7 percent. Within this, fashion and Maisons accessories registered an operating margin -2 percent by excluding directed inventory supply.
After a first half resistant in 2025, Richemont's impulse was strengthened in the second half of the year, with a 10 percent increase in Q3 and an 8 percent increase in the fourth quarter to real change rates.
When closing the transaction, Richemont sold Ynap to Mytheresa, which had an cash position of € 555 million and without financial debt. In return, Richemont received actions that represent 33 percent of the completely diluted share capital of the recently combined entity, Luxexperience of May 1, 2025. As part of the agreement, Richemont also extended a rotating credit line of € 100 million to support the corporate requirements of Ynap.
“We continue to invest in a future growth, strengthening our distribution network, improving our manufacturing capacity and contributing to the raising and preservation of unique artisanal skills,” he said, “he said Johann Rupert, President of Richemont. “We also deliver several strategic fronts, successfully completing the acquisition of Vhernier, and allowing Gianvito Rossi further expanding his brand worldwide, after having joined the group last year. We are also pleased to have found a good home for Ynap, whose strengths will be made to Mytheresa to create a new global leader in digital luxury.”
“With a renewed leadership team and a governance structure, the completion of perfect management transitions in several Maisons and our teams of talented professionals committed to creativity and innovation, we are well positioned to guide Richemont through their next development phase,” Rupert added. “As I said before, the current global uncertainties will continue to require strong agility and discipline.”
Fiber2Fashion News Desk (SG)
