Core Insights - The Christian Dior Group reported revenue of €58.1 billion for the first nine months of 2025, showing resilience and innovative momentum despite geopolitical and economic disruptions [1][11] - The Group experienced 1% organic growth in the third quarter, with improvements across all business groups and regions, except for Europe where tourist spending declined due to currency fluctuations [2][4] Revenue Performance - Revenue by business group for the first nine months of 2025 compared to 2024: - Wines & Spirits: €3,917 million, down 7% reported, down 4% organic - Fashion & Leather Goods: €27,611 million, down 8% reported, down 6% organic - Perfumes & Cosmetics: €6,040 million, down 2% reported, stable organic - Watches & Jewelry: €7,409 million, down 2% reported, up 1% organic - Selective Retailing: €12,613 million, stable reported, up 3% organic [3][14] Business Group Highlights - **Wines & Spirits**: Slight organic growth in Q3, with improved performance in champagne and wines, but overall revenue declined in the first nine months due to trade tensions affecting key markets [5] - **Fashion & Leather Goods**: Revenue declined in the first nine months, but showed improvement in Q3, driven by local customer resilience and successful product launches [6] - **Perfumes & Cosmetics**: Stable revenue with successful product launches, including Miss Dior Essence and Dior Homme Parfum, maintaining a robust innovation policy [8] - **Watches & Jewelry**: Organic growth in the first nine months, with strong performances from Tiffany & Co. and Bvlgari, showcasing expert craftsmanship [9] - **Selective Retailing**: Revenue growth driven by Sephora's sustained performance and market share gains, alongside improved trends in DFS [10] Outlook - The Christian Dior Group remains confident in its strategy to enhance brand desirability and reinforce its global leadership position in luxury goods amid an uncertain economic environment [11]

Group Highlights - Richemont reported a robust performance for the financial year ended 31 March 2025, with group sales increasing by 4% to €21.4 billion [7][25] - The company experienced double-digit growth across all regions except for Asia Pacific, with notable increases in Europe (+10%), the Americas (+16%), Japan (+25%), and the Middle East & Africa (+15%) [8][25] - Direct-to-client sales accounted for 76% of group sales, driven by both retail and online channels [8] Financial Highlights - Total sales reached €21.4 billion, with Q4 sales up 8% (+7% at constant exchange rates) [5] - Operating profit decreased by 7% to €4.5 billion, resulting in an operating margin of 20.9% [5][12] - Profit for the year from continuing operations was €3.8 billion, down 1%, while the overall profit for the year amounted to €2.8 billion, up 17% after accounting for a €1.0 billion loss from discontinued operations [12][21] Segment Performance - Jewellery Maisons, including brands like Cartier and Van Cleef & Arpels, saw sales increase by 8% to €15.3 billion, with an operating margin of 31.9% [9][10] - Specialist Watchmakers reported a 13% decline in sales, leading to a 5.3% operating margin, primarily due to demand weakness in China [10][11] - The 'Other' business area achieved sales of €2.8 billion, up 7%, but reported an operating loss of €102 million, resulting in a margin of -3.7% [11][12] Strategic Developments - The company completed the acquisition of Italian jewellery Maison Vhernier and strengthened its leadership team with new appointments, including a Group CEO and Chief People Officer [5][16] - Richemont sold YOOX NET-A-PORTER (YNAP) to Mytheresa, retaining a 33% stake in the newly formed LuxExperience [19][20] - The Board proposed a dividend increase to CHF 3.00 per 'A' share, reflecting a 9% increase over the prior year [21] Cash Position - Richemont maintained a strong net cash position of €8.3 billion at year-end, supported by €4.4 billion cash flow generated from operating activities [5][13]