Richemont opened its 2026/27 financial year on a strong note, reporting first-quarter sales of €6.33 billion, representing growth of 20% at constant exchange rates and 17% at actual exchange rates for the period ending 30 June 2026.
The luxury group's performance was supported by growth across every region, business segment and distribution channel, with its jewellery maisons once again emerging as the primary driver of results.
The jewellery division, home to Cartier, Van Cleef & Arpels, Buccellati and Vhernier, recorded a 24% increase in sales at constant exchange rates, extending its run of double-digit growth to seven consecutive quarters. Demand remained strong across both jewellery and watch collections, aided by new product launches and continued consumer appetite for high jewellery.
Richemont's Specialist Watchmakers division posted an 8% rise in sales, with brands such as Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Söhne contributing to the momentum. Meanwhile, the group's Other business segment, which includes its Fashion & Accessories maisons, delivered 9% growth.
Geographically, the Americas generated the strongest performance with sales increasing 27%, while Japan recorded a 36% rise, supported by domestic demand and tourism. Asia Pacific grew 21%, with China, Hong Kong, Macau, South Korea and Taiwan all contributing positively, while Europe reported 11% growth. The Middle East and Africa region returned to positive territory with sales up 3%, despite softer tourist spending linked to geopolitical uncertainty.
Retail continued to dominate Richemont's business mix, accounting for 71% of total group revenue, with sales through directly operated boutiques rising 24%. Online retail sales increased 18%, while wholesale and royalty income advanced 9%.
The company noted that local consumers remained the key source of demand across most markets, while Europe also benefited from increased spending by visitors from North America and the Middle East.
Despite ongoing macroeconomic challenges, geopolitical instability and higher raw material costs, Richemont said it remains committed to investing in its maisons and capabilities to support sustained long-term growth.
