Editor’s Note
**Editor’s Note:** Richemont’s Q1 results underscore the enduring strength of high-end jewelry, with sales surging 21% year over year to EUR 4.73 billion—marking seven consecutive quarters of double-digit growth. Broad-based gains across regions, led by a 25% rise in the US, highlight resilient global demand, even as specialist watch sales faced headwinds in China.
- Richemont’s jewelry sales rose 21% year over year to EUR 4.73 billion ($5.4 billion) in Q1, marking seven consecutive quarters of double-digit growth.
- Growth was broad-based, with the US up 25%, Japan 20%, and double-digit increases across the Americas, Asia Pacific, Europe, and the Middle East and Africa.
- Specialist watchmakers saw a 6% sales increase to EUR 873 million ($997.4 million), with declines in China, Hong Kong, and Macau offset by gains elsewhere in Asia.
Revenue at Richemont’s jewelry division improved in the first fiscal quarter, as the group recorded growth in all regions.
Sales at Cartier, Van Cleef & Arpels, Buccellati, and Vhernier rose 21% year on year to EUR 4.73 billion ($5.4 billion) – up 24% at constant exchange rates – for the three months that ended June 30, the Swiss luxury group reported Wednesday. This marks the seventh successive quarter of double-digit growth, it added.
Overall, the company saw a robust performance, with the US gaining 25% and Japan rising 20%. Local demand drove growth across all regions, as the Americas, Asia Pacific, Japan and Europe showed double-digit increases at both constant and actual exchange rates. The Middle East and Africa also returned to growth.
Sales at specialist watchmakers – which include A. Lange & Söhne, Piaget, and Vacheron Constantin – improved 6% to EUR 873 million ($997.4 million). The division advanced across most maisons and regions, with the Americas and Japan showing the most strength. Performance was mostly stable in Asia Pacific, but sales declined in China, Hong Kong and Macau. Growth in the rest of the region almost fully offset the downturn.
Group revenue, encompassing jewelry, fashion, accessories and timepieces, gained 17% to EUR 6.33 billion ($7.23 billion).
Image: A Cartier store in Beijing, China. (Shutterstock)
