News 
The group delivered a robust performance in its 2024-2025 financial year ending on 31 March. In an uncertain macroeconomic and geopolitical environment, it continued to invest in nurturing its Maisons’ current and long-term growth, particularly through their distribution networks, production assets and quality craftsmanship.
The group’s annual sales reached €21.4 billion, up 4% at actual and constant exchange rates, driven by high single-digit growth at the Jewellery Maisons. Operating profit came in at €4.5 billion, down 7% at actual exchange rates, or 4% at constant exchange rates.
After a resilient first half, sales growth accelerated in the second part of the year, with a 0% rise in the third quarter followed by + 8% in the fourth quarter at actual exchange rates. Over the year, the group achieved double-digit growth in most of its regions at both actual and constant exchange rates. Illustrating the group’s balanced geographical footprint, this growth offset the erosion of sales in Asia Pacific, particularly in China. Notable growth was recorded in Europe (+10%), the Americas (+16%), Japan (+25%) and the Africa Middle East region (+15%), at actual exchange rates. Direct to client sales now account for 76% of the group’s overall sales, driven by growth in the network of own-name boutiques and online sales.
With a renewed executive team and governance structure, smooth management transitions at several of its Maisons along with its talented staff’s commitment to creativity and innovation, the group is well positioned for its next phase of development.
June 12, 2025