The Geneva-based luxury giant Richemont, owner of Cartier and Van Cleef & Arpels, posted an excellent start to the year for its first quarter ended June 30, 2026. Driven by the exceptional momentum of its jewelry houses and strong performance across nearly all of its key markets, the group posted revenue of 6.3 billion euros, up 20% at constant exchange rates.
Jewelry, the undisputed driver of growth
During this first quarter of the fiscal year, Richemont saw its total sales rise by 17% at actual exchange rates to 6.329 billion euros. These results actually exceeded analysts’ expectations, who had forecast revenue of less than 6 billion euros.
This remarkable performance was once again driven by its prestigious jewelry houses (Cartier, Van Cleef & Arpels, Buccellati), whose revenue jumped 24% at constant exchange rates to reach 4.73 billion euros.
Meanwhile, the Specialty Watchmaking division confirmed its gradual recovery with an 8% increase, while the Fashion & Accessories division grew by 9%. By distribution channel, direct-to-consumer retail sales emerged as the primary driver of growth, with a marked increase of 24%.
Geographic momentum driven by Japan and the Americas
Geographically, growth was particularly balanced. Japan posted the strongest quarterly growth with a 36% surge in sales at constant exchange rates, closely followed by the Americas region (+27%) and the Asia-Pacific region (+21%). Europe maintained a solid pace of growth at +11%, while the Middle East & Africa region returned to growth (+3%).
Although the global macroeconomic and geopolitical environment remains volatile and marked by rising raw material costs, Richemont is approaching the remainder of the fiscal year with confidence. The Swiss group is supported in particular by an extremely sound financial position, with net cash now totaling 9.1 billion euros (bolstered by the receipt of 400 million euros from the sale of its stake in Avolta).
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Featured photo : © Richemont
