Cartier has grown at twice the pace of its parent company, Richemont, in the UK, the company’s latest published accounts show.
Sales in the UK rose by 11% to £251 million in the financial year that ended in March 2025. Operating profit increased by 25% to £15 million.
Richemont, excluding Cartier, reports separately. Its UK sales rose by 5.5% to £277 million.
On the current growth trajectory, the company’s sales will be greater than the rest of Richemont before the end of this decade.
Richemont is a publicly-traded company that is legally obliged to publish its global accounts, but does not breakdown Cartier sales between watches and jewellery or by wholesale and retail.
Industry analysts believe watches account for 25-30% of Cartier turnover. Applying this to UK sales would mean it generating around £70 million from watches.
The booming company has been putting its profits to good use, by investing in prime Mayfair real estate.
In its 2024-25 financial year, it reported the purchase of investment property worth £159 million and £2.6 million in investment property income.
Land Registry documents show it bought 18-19 Albemarle Street for £67.5 million. The building’s tenants include British jeweller Boodles and fashion designer Amanda Wakeley.
Boodles’ showroom runs all the way through to No. 178 on the parallel New Bond Street, which Land Registry documents show was bought by Richemont last year for £82 million.
178 New Bond Street is directly next door to Cartier’s Mayfair flagship at No. 177.
Cartier Ltd’s accounts describe: “During the year the company acquired two properties in Central London for £159,333,000. The funding of the property acquisition was done through additional capital received from the company’s parent company Richemont Holdings (UK) Limited. The properties are held as investment properties”.
Cartier has eight boutiques in the UK, all in London, which sell both jewellery and watches.
A countrywide network of partner jewellers is currently permitted only to sell watches.
