Core Insights - Richemont has published its combined Annual Report and Non-Financial Report for the fiscal year ending March 31, 2025, which includes comprehensive financial statements and governance details [3][4]. Financial Reporting - The Annual Report includes the Chairman's review, consolidated financial statements, and audit reports, previously released on May 16, 2025 [3]. - The Non-Financial Report adheres to the Global Reporting Initiative (GRI) Standards and complies with Swiss Code of Obligations, including climate disclosures [4]. Availability of Reports - Both reports are accessible for download on Richemont's official website, with hard copies available upon request [5]. - In South Africa, the reports can be obtained directly from the Depository Agent, Computershare Investor Services [6]. Company Overview - Richemont is known for its prestigious Maisons, focusing on craftsmanship and creativity, with a commitment to sustainable growth [7]. - The company operates in three main business areas: Jewellery Maisons, Specialist Watchmakers, and Fashion & Accessories Maisons [8]. Stock Information - Richemont A shares are listed on the SIX Swiss Exchange and included in the Swiss Market Index (SMI), with a secondary listing on the Johannesburg Stock Exchange [9].

近日，瑞士奢侈品公司历峰集团公布截至2025年3月31日的2025财年业绩，全年销售额同比增长4%至 213.99亿欧元，营业利润微跌1%至37.6亿欧元，利润率降至20.9%。 目前，珠宝业务仍是这个硬奢集团的核心增长引擎，卡地亚、梵克雅宝等品牌全年营收达153.3亿欧 元，同比增长8%，营业利润同比增长4%。卡地亚一个品牌贡献了集团超过半数的收入和七成利润。相 比之下，积家、江诗丹顿等高端腕表品牌所在的制表部门营收则下滑13%，利润大幅缩水69%。 "奢侈品市场增长放缓"早已不仅存在于新闻标题，全球经济下行、地缘冲突、贸易战、代言人"塌房"等 诸多因素影响下，不只历峰在这场生存赛中奋战。 危机突围 按市场划分，历峰集团亚太地区全年营收下降13%。美洲、欧洲和日本市场均实现两位数增长。 在历峰集团内部，原江诗丹顿首席商务官Laurent Perves升任CEO，接替前往卡地亚的Louis Ferla，而历 峰首席运营官Jér me Lambert则重返积家掌舵。 当前，传统头部品牌面临增长瓶颈的同时，部分独立品牌通过精准定位和产品创新实现快速增长。在消 费者偏好快速变化、市场竞争日趋激烈的背景下，各大集团都 ...

【环球网消费综合报道】世界三大奢侈品巨头之一的Richemont历峰集团5月16日公布了截至3月31日的2025财年业绩报告。值得关注的是，历 峰集团CEO Nicolas Bos罕见承认当前中国市场承压，对于威胁其市场地位的对手，他表示"老铺黄金植根于中国文化，推动了珠宝这个市场的 渴望度和活力，也让历峰集团继续保持创造力。" 历峰集团发布截至3月底的2025财年业绩报告，集团收入按实际汇率增长4%至214亿欧元；全年营业利润为37.6亿欧元，同比下滑1%，营业利 润率降至20.9%，较上年减少240个基点。 按地区分，中国所在亚太市场全年营收下降13%，是唯一录得双位数下滑的核心市场，其中中国市场大跌23%。财报后的发布会上，在被分析 师问及老铺黄金的影响时，历峰集团CEO Nicolas Bos表示，珠宝市场仍然是一个非品牌化或较低品牌化程度市场，集团的主要任务仍然是从 非品牌市场中获取份额。一个健康的市场是新玩家会在不同市场和文化中涌现。老铺黄金植根于中国文化，推动了珠宝这个市场的渴望度和 活力，也让历峰集团继续保持创造力。 创立于2009年的老铺黄金，是国内率先推广"古法黄金"概念的品牌，也是我国古 ...

卡地亚、梵克雅宝、积家、江诗丹顿等高级珠宝和腕表品牌的母公司、瑞士奢侈品巨头Richemont历峰集团5月16日公布截至3月31日的2025财 年业绩报告，意外的是中国黄金珠宝品牌老铺黄金成为历峰财报发布会上的"显眼包"。 摩根士丹利本周发布最新报告称，中国黄金珠宝品牌老铺黄金对卡地亚的竞争威胁仍在扩大。 历峰集团董事长Johann Rupert回应时表示："老铺黄金的成 功与中国的文化自信深度绑定，所以该品牌吃到了很多东风，但卡地亚和梵克雅宝的影响力是全球性的。"而集团首席执行官Nicolas Bos坦言，老铺黄金 让历峰集团继续保持创造力。 财报数据显示，历峰集团2025财年销售额同比增长4%至213.99亿欧元，除亚太市场外，所有区域市场均实现两位数增长。集团表示得益于珠宝品牌实现 的高个位数增长。集团全年营业利润为37.6亿欧元，同比下滑1%，营业利润率降至20.9%，较上年减少240个基点。该财年第四季度（2025年1月至3月） 销售额同比增长8%（按固定汇率：+7%）至51.7亿欧元，超出市场预期。 按部门来看，四大珠宝品牌 —— 卡地亚、梵克雅宝、布契拉提Buccellati及去年9月收购的意大 ...

历峰集团首席执行官：集团可能调整价格。 ...

历峰集团首席执行官：美洲地区的业务表现良好。除大中华区外，其他市场均实现增长。 ...

历峰集团25财年销售额214亿欧元，分析师此前预计为213.8亿欧元。 ...

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR16 MAY 2025 RICHEMONT PUBLISHES FY25 ANNUAL REPORT AND ACCOUNTS Richemont has today published its Annual Report and Accounts for the year ended 31 March 2025. The Annual Report includes the Chairman's review to shareholders, the annual consolidated and statutory financial statements, and the corresponding audit reports. It reflects the information provided in Richemont’s full-year 2025 results announcement issued today. Richemont expects to publish the combined Annu ...

Financial Data and Key Metrics Changes - Sales for the first half of the year were stable at constant exchange rates and just 1% lower at actual exchange rates, with an operating profit of EUR2.2 billion, a 17% decrease compared to the prior year period [6][7] - Profit from continuing operations decreased by 20% to EUR1.7 billion, with a reported operating margin of 21.9%, down 410 basis points from the previous year [6][7][38] - Cash flow from operating activities amounted to EUR1.2 billion, reflecting a decrease of EUR417 million compared to the prior year period [7][42] Business Line Data and Key Metrics Changes - The Jewellery Maisons, the largest business area, achieved sales of EUR7.1 billion, up 2% in the first half, with a 32.9% operating margin [21][22] - Specialist Watchmakers saw a 17% decline in sales compared to the prior year period, primarily due to a 29% drop in the Asia Pacific region [26][27] - The Other business area reported a 4% increase in sales, driven by a strong double-digit increase at Watchfinder [30] Market Data and Key Metrics Changes - The Americas region experienced double-digit sales growth, contributing 23% of group sales, up from 21% in the prior year [12] - Asia Pacific sales declined by 18%, largely driven by a 27% drop in China, Hong Kong, and Macau combined [13] - Japan's sales increased by 42%, supported by solid domestic demand and inbound tourism [15] Company Strategy and Development Direction - The company made significant investments in manufacturing capacity for its Jewellery Maisons, including the acquisition of the Italian Jewellery Maison Vhernier [10] - The group aims to strengthen its corporate governance and leadership across its Maisons, with new appointments in key positions [11] - The company is focused on maintaining a balanced regional footprint to offset declines in specific markets, particularly in Asia Pacific [8][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current macroeconomic challenges and emphasized the importance of maintaining a disciplined approach [49] - The outlook remains cautious due to the uncertain environment, but the company believes in the strong positioning of its Maisons for sustainable value creation [49] Other Important Information - The company announced the agreement to sell YNAP to Mytheresa, with the transaction expected to close in the first half of calendar year 2025 [46][47] - The net cash position remained solid at EUR6.1 billion, despite a decrease due to dividend payments [45] Q&A Session Summary Question: Growth of various nationalities in Jewellery Maisons - Management noted a significant increase in domestic clients across regions, with a decrease in purchases by Chinese nationals due to macroeconomic factors [54][56] Question: One-off costs impacting margins - Management confirmed that one-off costs related to acquisitions and communication expenses contributed to the lower operating margin, with approximately EUR125 million attributed to one-off items [59][60] Question: Recent sales trends in September and October - Management refrained from commenting on short-term trends but noted stable sales evolution across most markets [67] Question: Inventory situation in China for watches - Management assured that inventory levels in China are healthy and closely monitored to avoid overstocking [90] Question: Mitigating actions for rising gold prices - Management indicated a cautious approach to pricing, aiming to maintain attractiveness for domestic clients while absorbing some cost increases [85][86]

Upon a quick look at the stock market, one can spot multiple retail stocks that appear undervalued. However, investing in retail stocks can be challenging due to their cyclical nature and competitive end markets. Despite this, successful execution can result in significant returns. I conducted research on the retail sector to identify potential investment opportunities. To ensure that my picks had a solid foundation, I analyzed the fundamental aspects of each stock. I also evaluated the quantitative variabl ...