Richemont Posts Sales Beat as Jewelry Continues to Glow — Update

By Andrea Figueras

Swiss luxury group Richemont reported better-than-expected sales for its most recent quarter, bolstered by its jewelry business and despite a volatile market for the luxury sector.

The jeweler and watchmaker on Wednesday booked sales of 6.33 billion euros ($7.23 billion) for the quarter ended June 30, above analysts' forecasts of 5.89 billion euros, according to a poll of estimates compiled by Visible Alpha.

Sales were up 20% compared with the same period a year earlier at constant exchange rates, accelerating from the preceding quarter, when the company posted a 13% on-year expansion.

Richemont's sales were up across all regions, with double-digit increases in Europe, the Americas, Asia-Pacific and Japan, while Middle East and Africa returned to growth.

In recent years, Richemont has performed better than many of its competitors, partly due to its stronger focus on jewelry. Branded luxury jewelry has managed to weather a difficult economic climate that has damped demand for high-end fashion and handbags, as it caters to the wealthiest consumers, who have continued to purchase luxury goods. Furthermore, customers see a higher value proposition in jewelry than in other categories.

In addition, the company targets mainly local consumers instead of tourists, which has helped it avoid some of the travel disruption from affluent buyers caused by the Middle East war.

The company's core jewelry business, home to brands like Cartier and Van Cleef & Arpels, recorded a 24% jump in sales to 4.73 billion euros, ahead of consensus expectations of 4.35 billion euros. This marks the seventh consecutive quarter of double-digit growth at the key segment.

Richemont has demonstrated market-leading revenue growth for its key unit since the pandemic, driven by strong execution at flagship brand Cartier and increasingly important Van Cleef & Arpels, analysts at RBC Capital Markets said in a research note.

Meanwhile, the group's watch division, which houses labels such as Piaget and Vacheron Constantin, posted sales of 873 million euros, 8% higher on year.

Richemont said it continues to invest in the growth of its businesses against what it called a persistently volatile economic and geopolitical backdrop which is driving elevated raw material costs.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

July 15, 2026 05:27 ET (09:27 GMT)