Richemont Q1 sales rise 20% at constant FX

Luxury jewelry display in upscale store illustrating strong Q1 sales growth in high-end retail sector

Key Points

01Richemont Q1 group sales reached €6.3 billion, up 20% at constant rates
02Jewellery Maisons led growth with a 24% sales increase and ongoing double-digit expansion
03Retail channels grew 24% and made up 71% of Richemont’s Q1 sales
04Americas, Asia Pacific and Japan delivered strong double-digit regional growth

Strong start to Richemont’s financial year

For the quarter ended 30 June 2026, Richemont reported group sales of €6.3 billion. This represented a 20% increase at constant exchange rates and a 17% rise at actual exchange rates. The performance marked a strong start to the company’s new financial year, with growth described as broad-based across businesses and geographies.

The sales advance was achieved in a macroeconomic and geopolitical environment described as volatile. Despite this backdrop, overall demand from local clientele in key markets remained supportive of revenue growth during the period.

Jewellery Maisons remain key growth driver

Richemont’s four Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels and Vhernier – posted a combined 24% rise in sales in the quarter. This marked the seventh consecutive quarter of double-digit growth for these jewellery brands.

The jewellery businesses continued to outperform the broader group, underscoring their central role within Richemont’s portfolio. Growth in jewellery also supported the performance of the group’s distribution channels and regional sales.

Watchmakers and other businesses contribute

The Specialist Watchmakers division recorded an 8% increase in sales, improving sequentially compared with prior periods. This growth added to the strong contribution from jewellery and reflected firmer demand for watch offerings.

The “Other” segment, which includes Fashion & Accessories Maisons, delivered a 9% sales increase. Together, these areas complemented the expansion in jewellery and watches, contributing to the group’s overall double-digit sales growth.

Retail, wholesale and online channel dynamics

By distribution channel, retail sales rose 24% at constant exchange rates and accounted for 71% of group sales in the quarter. This confirmed the importance of directly operated stores in Richemont’s business model.

Wholesale sales increased by 9%, with growth recorded across all business areas and led by the Jewellery Maisons. Online retail sales advanced 18%, showing robust growth across most regions, driven particularly by strong increases in Japan, the Americas and Asia Pacific.

Broad-based regional growth

Sales increased across all regions, with notable double-digit growth in Europe, the Americas, Asia Pacific and Japan. In Europe, sales were up 11%, while the Americas saw growth accelerate sequentially to 27%, supported by strong local demand.

Asia Pacific sales rose 21% compared with the prior-year period, and Japan achieved a 36% increase, driven by both local demand and tourist spending. The Middle East & Africa region returned to growth, with sales up 3% in the quarter.

Reporting and outlook context

Richemont released these first-quarter figures in an ad hoc announcement on 15 July 2026. The company highlighted that growth was supported by strong local clientele across markets during the period.

Management also noted that the performance came against a backdrop of ongoing macroeconomic and geopolitical volatility. Within this environment, the resilience of jewellery, continued expansion of retail and online channels, and broad-based regional growth underpinned the group’s reported sales increase.

Key Takeaways

01Richemont’s double-digit Q1 sales growth was broad-based across product categories, regions and channels, rather than reliant on a single market or business line.
02Jewellery Maisons remain the core engine of the group, delivering sustained double-digit growth and outpacing other segments such as watches and fashion & accessories.
03The dominance of retail and the solid expansion of online sales underscore Richemont’s increasing focus on direct-to-consumer channels alongside a growing but smaller wholesale presence.

References