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Richemont (Cartier)'s defining moves.

The defining strategic moves at Richemont (Cartier) — each one explained and grounded in the record.

The Moat Anatomy · Moat Anatomy

Richemont Sells Itself as a Watch Empire. The Money Is in the Necklaces.

Everyone files Richemont under Swiss watches. But in FY2025 its Jewellery Maisons booked €15.3 billion at a ~32% margin, while the famous watchmakers fell to €3.8 billion and a 5.3% margin. The hard-luxury moat is a high-jewellery moat wearing a watch on its wrist.