Editor’s Note
Richemont’s latest quarterly results demonstrate robust underlying growth, with constant-currency sales rising 11%. The figures highlight both the luxury group’s operational strength and the persistent impact of foreign exchange fluctuations on reported revenue.
The Swiss conglomerate Richemont has reported sales of €6.399 billion for the third quarter of its 2025-2026 fiscal year, ended December 31. At constant exchange rates, revenue grew by 11%, while at actual exchange rates, the increase was limited to 4%, with currencies once again influencing the regional performance.
In the quarter where the holiday campaign boosts volume and tests positioning, the jewelry segment once again set the pace.
Meanwhile, the specialist watchmaking category also maintained its tone.
The ‘Other’ business division remained stable at constant exchange rates. Fashion and accessories recorded a 3% increase, driven by Peter Millar and Gianvito Rossi.
During the period, growth was distributed geographically at constant exchange rates, with double-digit advances in the Americas, Japan, and the Middle East & Africa. The group also highlighted the starting point: in the same quarter of the previous fiscal year, the Americas grew 22%, while Europe and Japan each advanced 19%.
The Americas region saw sales rise to €1.740 billion, a 14% increase at constant exchange rates. The company attributed this performance to strong local demand and contributions from all business areas and key markets.
Europe closed the quarter with sales of €1.550 billion, an 8% increase at constant exchange rates. Richemont linked the advance to local demand and tourist spending, with the UK and Italy among the most dynamic markets.
Asia Pacific grew 6% at constant exchange rates to €1.870 billion, although it declined 2% at actual exchange rates. In detail, China, Hong Kong, and Macao combined grew 2%, “led” by Hong Kong. The group also highlighted the performance of South Korea and Australia. Japan reached €632 million, a 17% increase at constant exchange rates, and the Middle East & Africa totaled €607 million, a 20% advance at constant exchange rates.
Retail sales increased 12% at constant exchange rates to €4.601 billion, accounting for 72% of the group’s sales in the quarter. Beyond the store perimeter, Richemont’s presentation placed direct-to-consumer business at 78% of sales, stable compared to the same quarter last year. By division, this share rose to around 85% in jewelry and stood at around 60% in specialist watchmaking.
For the nine-month cumulative period from April to December 2025, Richemont increased sales by 10% at constant exchange rates and 5% at actual exchange rates, to €17.018 billion. During this period, jewelry grew 14% at constant exchange rates, while specialist watchmaking and other divisions each advanced 1%. The group closed December 31, 2025, with a net cash position of €7.6 billion, compared to €7.9 billion a year earlier. Richemont will publish the full-year results for the period ending March 31, 2026, on May 22, 2026.