Editor’s Note
Richemont’s latest quarterly results show a significant acceleration in growth, with a notable rebound in its watch division and renewed strength in the Chinese market.
The jewelry and watch conglomerate Richemont grew more strongly in the second quarter than in the previous quarter. While the organic increase was still 6 percent in the first quarter, it reached 14 percent in the summer quarter. In the second quarter of 2025/26 (ending September), even the recently sluggish watch business picked up again. The Chinese market is also growing again.
For the half-year, the Geneva-based company achieved a sales increase of 10 percent at constant exchange rates to 10.62 billion euros, according to a statement released on Friday. On average, analysts had expected only 10.43 billion.
All regions grew at double-digit rates at constant exchange rates in the second quarter, driven by sustained local demand. The combined region of China, Hong Kong, and Macau, as well as the Japan region, returned to growth in the second quarter, it was stated.
For the first half-year, this resulted in all regions except Japan posting organic growth. The increases were particularly high in the Americas (+18 percent) and the Middle East & Africa (+19 percent). Europe achieved +11 percent, while sales in Asia-Pacific rose by at least 5 percent. Japan declined by 4 percent.
In the six-month period, the Asia-Pacific region (32 percent) accounted for the largest share of revenue, followed by the Americas (25 percent) and Europe (24 percent). Japan and the Middle East & Africa accounted for 10 percent and 9 percent of revenue, respectively.
Looking at the business segments, the jewelry houses – including jewelry manufacturers such as Cartier or Van Cleef & Arpels – recorded strong demand and increased by 14 percent at constant exchange rates to 7.75 billion euros in the first half-year. In the second quarter alone, they even achieved a plus of 17 percent.
In contrast, watch sales – Richemont owns luxury watch brands such as Piaget or IWC – declined organically by 2 percent to 1.56 billion in the first six months, but a plus of 3 percent was recorded in the second quarter.