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Fortune
Fortune
Prarthana Prakash, AFP

Cartier owner Richemont shines with better-than-expected sales as poor China demand offset by rest of the world

A DIAMOND NECKLACE ON DISPLAY (Credit: FABRICE COFFRINI—AFP/Getty Images)

Cartier owner Richemont reported record quarterly sales on Thursday, beating expectations as a slump in key market China was offset by robust demand in other regions.

The group said sales reached €6.2 billion ($6.3 billion) in the third quarter ending on December 31, a 10% rise from the same period in 2023. 

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