South Africa's Richest Man, Johann Rupert's Richemont, Reports 16.7 Billion In Nine-month Sales
- Richemont, led by billionaire Johann Rupert, posted a 3 rise in nine-month sales, with a record-breaking 6.32 billion in Q3 2024.
- Richemont's 16.7 billion 9M sales were driven by regional growth, led by Japan's 25 surge, offsetting a 15 decline in Asia Pacific. Q3 sales hit a record 6.33 billion.
- The companys net cash position surged to 7.9 billion 8.1 billion from 6.8 billion 7 billion.
Richemont, the Swiss luxury goods giant led by South Africas richest man Johann Rupert, has reported nine-month sales of 16.7 billion for its fiscal year 2025 , marking a 3 percent increase from the same period in 2023.
The results, which include a record-breaking quarterly revenue of 6.15 billion 6.33 billion, highlight the companys ability to navigate a strengthening dollar and a challenging macroeconomic and geopolitical environment.
Richemont's resilience amid mixed regional resultsOver the nine-month period ending Dec. 31, 2024, the conglomerate achieved 4 percent sales growth at constant exchange rates and 3 percent at actual rates, solidifying its position as a dominant player in the global luxury market.
Richemonts resilience was particularly evident in its regional performance, with growth across all markets except the Asia Pacific, which saw a 15 percent contraction to 5.36 billion 5.52 billion.
Declines in China, Hong Kong, and Macau, driven by low consumer confidence and challenging year-on-year comparisons, weighed on the regions results.