Editor’s Note
**Editor’s Note:** Richemont’s strong first-quarter results, driven by robust demand for Cartier and Van Cleef & Arpels, underscore the enduring appeal of high-end jewelry. With revenue up 17% and surpassing expectations, the group remains firmly on a growth trajectory.
Richemont remains on track for growth: The jewelry and watch group posted strong revenue growth in the first quarter of fiscal year 2026/27, exceeding analysts’ expectations.
Products from the jewelry houses Cartier and Van Cleef & Arpels continue to enjoy great popularity.
Group revenue climbed 17 percent to 6.33 billion euros in the months of April through June compared with the same period a year earlier, according to a statement released Wednesday. Adjusted for currency effects, Richemont’s revenue would have risen by as much as 20 percent.
Richemont has thus further accelerated its already strong growth momentum. In the final quarter of the previous year, sales had grown by 16 percent on a currency-adjusted basis.
The jewelry business continues to drive this positive performance. In the quarter under review, sales in this segment rose by 21 percent to 4.37 billion euros, and by 24 percent on a currency-adjusted basis. Sales by watch manufacturers—including brands such as IWC and Piaget—continued to lag behind, with revenue up 6 percent to 873 million euros (adjusted: +8 percent).
With its revenue figures, Richemont clearly exceeded analysts’ expectations as reflected in the AWP consensus. Analysts had forecast group revenue of 5.91 billion euros and growth of 11.5 percent in local currencies.
As is customary, the Group is not providing any information on earnings trends for the first quarter. And when it comes to forecasts, the management team led by Board Chairman Johan Rupert is also keeping a low profile.
In the regions, the recovery in Asia, among other factors, contributed significantly to Richemont’s success. On a currency-adjusted basis, the group increased sales in Asia-Pacific by 21 percent. Business in China, Macau, and Hong Kong saw double-digit growth overall. A year ago, the luxury goods industry in those regions had suffered from weak consumer spending.
Meanwhile, demand remains strong in the U.S. In the Americas market region, Richemont’s revenue soared by 27 percent, while the Middle East & Africa region posted 3 percent growth despite the crisis in the Middle East.
