Richemont delivered a steady first half for FY26, underpinned by the continued strength of its leading jewellery maisons. For the six months ending 30 September 2025, jewellery sales reached €7.7 billion, rising 9% at actual exchange rates. The pace lifted further in the second quarter, with a 12% increase supported by broad-based demand across major regions.
Its maisons sustained strong momentum across markets, driven by enduring interest in their signature collections. Buccellati, Cartier, Van Cleef & Arpels and Vhernier all posted healthy growth, strengthened by consistent demand for iconic lines such as Buccellati’s Opera Tulle and Macri, Cartier’s Clash, Panthère and Santos, and Van Cleef & Arpels’ Alhambra, Flora and Perlée. High jewellery also saw a robust performance, supported by successful presentations in Europe and Asia.
Innovation remained a priority throughout the period. Van Cleef & Arpels introduced the Flowerlace collection in September, while Cartier rolled out its Love Unlimited line alongside an updated global campaign. The maisons also refined their boutique footprint through selective openings and refurbishments in key luxury destinations including Tokyo, Frankfurt, Zurich, Houston and Dubai.
Despite currency pressures, higher material costs and the initial effect of increased US duties, the jewellery division delivered an operating margin of 32.8%. Strategic pricing and disciplined expense management supported a 9% rise in operating profit to €2.5 billion, or 21% at constant rates.
At a group level, Richemont reported H1 revenue of €10.6 billion, with jewellery contributing 73% of total sales. Second-quarter growth was strong across all regions at constant rates, reflecting a resilient appetite for fine jewellery despite a challenging global backdrop.