Richemont accelerates growth thanks to jewellery business

Richemont remains on a growth trajectory. The Swiss jewellery and watch group significantly increased its sales in the first quarter of the 2026/27 financial year, exceeding analysts' expectations. Products from its jewellery houses, Cartier and Van Cleef & Arpels, continue to be highly popular. The company announced on Wednesday that group sales climbed by 17 percent to 6.33 billion euros (7.24 billion dollars) between April and June, compared to the same period last year. At constant exchange rates, sales increased by 20 percent.

Richemont has therefore accelerated its already strong growth momentum. In the final quarter of the previous year, sales had grown by 16 percent at constant exchange rates.

The positive development continues to be driven by the jewellery business. Sales in the reporting quarter increased by 21 percent to 4.37 billion euros, and by 24 percent at constant exchange rates. Sales from the watchmakers, including brands such as IWC or Piaget, continued to lag behind with a sales increase of 6 percent to 873 million euros (up 8 percent at constant exchange rates).

Expectations exceeded

Richemont's sales figures clearly exceeded analysts' expectations. They had forecast group sales of 5.91 billion euros and growth of 11.5 percent in local currencies.

As usual, the group does not provide details on profit development for the first quarter. The management, led by chairman of the board Johan Rupert, also refrained from providing any forecasts.

Strong US growth

Regionally, the recovery in Asia was a significant contributor to Richemont's success. The group increased sales in Asia Pacific by 21 percent at constant exchange rates. Business in China, Macau and Hong Kong saw double-digit growth overall, where the luxury goods industry had suffered from weak consumer spending a year ago.

Meanwhile, demand in the US remains strong. In the Americas market region, Richemont's sales climbed by 27 percent. The Middle East and Africa achieved three percent growth, despite the crisis in the region.