Jewelry Division Drives Richemont's Strong First-Quarter Sales Growth

Richemont delivered a strong performance in the first quarter of its fiscal year, with its jewelry division leading revenue growth and sales increasing across every major region.

Revenue from the group's renowned jewelry brands, including Cartier, Van Cleef & Arpels, Buccellati, and Vhernier, climbed 21% year on year to €4.73 billion ($5.4 billion) for the three months ending June 30. On a constant exchange-rate basis, sales were up 24%, marking the seventh consecutive quarter of double-digit growth for the division.

The luxury group also reported impressive regional results. Sales in the United States increased 25%, while Japan recorded 20% growth. Strong domestic demand supported double-digit sales gains across the Americas, Asia Pacific, Japan, and Europe, both at actual and constant exchange rates. Meanwhile, the Middle East and Africa returned to positive growth during the quarter.

Richemont's specialist watchmaking division, which includes prestigious brands such as A. Lange & Söhne, Piaget, and Vacheron Constantin, generated €873 million ($997.4 million) in revenue, representing a 6% increase from the previous year. Most of the group's watch brands and regional markets contributed to the growth, with the Americas and Japan delivering the strongest performances. Sales in the wider Asia-Pacific region remained generally stable, although demand weakened in China, Hong Kong, and Macau. Growth in other Asia-Pacific markets largely compensated for these declines.

Across all of its businesses—including jewelry, watches, fashion, and accessories—Richemont reported group revenue of €6.33 billion ($7.23 billion), reflecting a 17% year-on-year increase for the first fiscal quarter.