The luxury group recorded growth across every region and distribution channel, led by its jewelry houses and accelerating demand in the Americas.
Key Takeaways
- Retail sales rose 24 percent and accounted for 71 percent of total group revenue.
- Richemont’s first-quarter sales reached €6.3 billion, rising 20 percent at constant exchange rates and 17 percent at actual rates.
- Jewelry maisons led the group’s performance with 24 percent growth, marking their seventh consecutive quarter of double-digit gains.
- Sales increased across every region, led by Japan at 36 percent, the Americas at 27 percent and Asia-Pacific at 21 percent.
Richemont reported a strong start to its fiscal year, with first-quarter sales reaching €6.3 billion for the three months ended June 30, 2026.
Sales increased 20 percent at constant exchange rates and 17 percent at actual rates, supported by local demand across the group’s markets. Growth was recorded in every region and distribution channel despite continued macroeconomic and geopolitical uncertainty.
The group’s jewelry houses led the performance, with combined sales rising 24 percent at constant rates to €4.7 billion. Buccellati, Cartier, Van Cleef & Arpels and Vhernier collectively delivered their seventh consecutive quarter of double-digit growth.
Both jewelry and watch collections performed strongly, supported by new product development and continued demand for established designs. Sales advanced across all four jewelry houses, regions and distribution channels.
Richemont’s specialist watchmakers recorded an 8 percent increase in sales to €873 million, marking an improvement from the previous quarter. Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Söhne were among the strongest performers, with growth led by the Americas and Japan.
Sales in Richemont’s Other business area, which includes its fashion and accessories houses, increased 9 percent to €724 million. Peter Millar, Gianvito Rossi and Watchfinder & Co posted double-digit growth, while Montblanc recorded a solid performance.
Regionally, the Americas delivered a 27 percent increase at constant rates, with growth across markets, channels and business areas. Japan posted the strongest regional gain, rising 36 percent following a decline in the comparable period last year.
Asia-Pacific sales increased 21 percent, supported by strong demand in Hong Kong, Macau, South Korea and Taiwan. Combined sales in China, Hong Kong and Macau returned to double-digit growth.
Europe advanced 11 percent, driven by local clients and tourist spending, particularly from North American and Middle Eastern visitors. France, the United Kingdom and Germany made significant contributions to the region’s performance.
Sales in the Middle East and Africa rose 3 percent as local demand offset a decline in tourism related to conflict in the region.
Retail remained Richemont’s largest distribution channel, accounting for 71 percent of group sales. Retail revenue increased 24 percent at constant rates to €4.5 billion, while online sales rose 18 percent and wholesale and royalty income advanced 9 percent.
Richemont ended the quarter with a net cash position of €9.1 billion, including €400 million generated through the disposal of its stake in Avolta. The group said it will continue investing in the long-term growth of its maisons while navigating elevated raw-material costs and a volatile global environment.