Boosted by its jewelry business and China, which has returned to growth, the Swiss group performed very well in the first half of its fiscal year, which ended in September. While Richemont remains cautious for the full year, the agreement reached with the United States to reduce customs duties on Swiss products to 15% (from 39%) will ease the pressure somewhat in the second half.
Richemont was well above the fray in the luxury sector between April and September, corresponding to the Swiss group’s first half of its 2025-26 fiscal year, which ended at the end of September.
It thus pleasantly surprised industry observers with performance well above expectations, announced on November 14. Its half-year revenue grew by 5% at actual exchange rates (+10% at constant exchange rates) to €10.6 billion, exceeding the consensus established by the AWP agency, which had forecast sales of €10.43 billion.
The fastest-growing luxury group
According to analysts at Jefferies, these half-year results show that Richemont is currently the fastest-growing luxury group.
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Read also > Richemont remains resilient in the first quarter
Featured photo: © Cartier
