Richemont accelerates growth thanks to its jewellery business

Richemont continues its growth trajectory. The Swiss jewellery and watch group recorded a strong increase in turnover in the first quarter of the 2026/27 financial year, exceeding analysts' expectations. Products from the jewellery maisons Cartier and Van Cleef & Arpels continue to enjoy great popularity. The group's turnover rose by 17 percent to 6.33 billion euros from April to June compared to the same period last year, as the company announced on Wednesday. At constant exchange rates, Richemont would have grown by 20 percent.

Richemont has therefore further accelerated its already high growth rate. In the last quarter of the previous year, sales had grown by 16 percent at constant exchange rates.

The strong performance continues to be driven by the jewellery business. Turnover in this segment increased by 21 percent to 4.37 billion euros in the quarter under review, and by 24 percent at constant exchange rates. Sales from watch brands, including IWC and Piaget, lagged behind with a 6 percent increase in turnover to 873 million euros, or an 8 percent rise at constant exchange rates.

Expectations exceeded

With these turnover figures, Richemont has clearly exceeded analysts' expectations. They had forecast a group turnover of 5.91 billion euros and growth in local currencies of 11.5 percent.

As is customary, the group does not provide details on profit performance for the first quarter. The management, led by chairman of the board of directors Johan Rupert, also remains reserved regarding forecasts.

Strong growth in the US

Regionally, the recovery in Asia contributed significantly to Richemont's success. In the Asia-Pacific region, the group increased turnover by 21 percent at constant exchange rates. Business in China, Macau and Hong Kong grew by double digits overall. A year ago, the luxury sector in this area had suffered from a decline in consumption.

Demand in the US remains strong. In the Americas region, Richemont's turnover rose by 27 percent. Meanwhile, in the Middle East and Africa, there was growth of 3 percent despite the crisis in the Middle East.