Richemont Reports 20% Sales Growth in the First Quarter of FY2026

Jewellery Continues to Drive Group Performance

The Jewellery Maisons once again delivered the strongest contribution to Richemont's overall results. Sales from brands including Cartier and Van Cleef & Arpels increased by 24% to €4.732 billion, confirming that the Jewellery Maisons remain the Group's primary growth driver.

Key highlights include:

• Jewellery Maisons revenue reached €4.732 billion.

• Sales increased by 24% year-on-year.

• Cartier and Van Cleef & Arpels remained the principal growth drivers.

Watch Division Returns to Growth

Richemont's Specialist Watchmakers division also produced encouraging results after a period of weaker demand affecting the Swiss watch industry.

Quarterly sales increased by 8% to €873 million. The strongest performances came from Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Söhne, all of which contributed to the division's return to growth.

Although the Jewellery Maisons remained the Group's primary growth driver, the watch division also returned to positive growth during the quarter.

Growth Across Global Markets

Richemont reported higher sales in nearly every major region.

Regional performance at constant exchange rates:

Japan recorded the highest percentage growth during the quarter, while the Americas also delivered strong performance. Europe posted solid growth of 11%, and the Middle East & Africa region remained in positive territory despite ongoing geopolitical challenges.

Retail Remains the Strongest Sales Channel

Direct retail continued to outperform the other distribution channels, reflecting strong demand from end customers.

Sales channel performance:

• Retail sales increased by 24% and represented 71% of Group revenue.

• Online retail grew by 18%.

• Wholesale sales and royalty income increased by 9%.

What the Results Mean for Richemont

The first-quarter results show that Richemont began FY2026 with broad-based growth, led by its Jewellery Maisons and supported by improved performance across its Specialist Watchmakers division.

The quarter's main takeaways are:

• Group revenue reached €6.3 billion.

• Overall sales increased by 20% at constant exchange rates.

• The Jewellery Maisons remained the primary growth driver.

• Specialist Watchmakers returned to growth with an 8% increase in sales.

• Growth was recorded across all major regions and sales channels.

These results provide a strong start to Richemont's 2026 financial year and demonstrate continued growth across both its jewellery and watchmaking businesses.