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Richemont makes and sells luxury watches and jewelry, like Cartier and Van Cleef & Arpels.
Richemont is one of the world's biggest luxury goods companies, and it's really two businesses in one. The first is jewelry maisons, dominated by Cartier and Van Cleef & Arpels, which together make up roughly 70% of group sales. The second is specialist watchmakers like Vacheron Constantin and IWC Schaffhausen, which account for around 20% of revenue. Most of the rest sits in its fashion and accessories division, home to brands like Chloé. It sells to wealthy customers directly through its own boutiques and online platforms, with Asia, Europe, and the Americas as its main markets.
Think of it as a landlord of luxury: Richemont owns the crown jewels (Cartier), and it profits from scarcity and craftsmanship that ordinary factories cannot copy. Last year the group reported sales of roughly €21 billion, up about 2% at constant exchange rates, though profits fell as the Chinese luxury market cooled. Cartier is the engine, a single brand worth perhaps half the group's value. This concentration is a strength when China buys and a vulnerability when it doesn't.
For years Richemont also owned a big online fashion business called Yoox Net-a-Porter, which sold designer clothes on the internet. It was a drag, losing money, and in 2023 Richemont finally agreed to offload YNAP to rival Farfetch and a Dubai investor, essentially ending its online experiment. The company generates huge free cash flow, which it uses to pay dividends, buy back its own shares, and invest in its boutiques and digital tools. The name is a mouthful, but the business is simple: Richemont sells dreams made of gold, diamonds, and Swiss gears, mostly to people who don't need a discount.
Saved answer · last researched 11 Oct 2026