Richemont surprised the market (positively) and demolishes forecasts: in the first quarter of the financial year (April-June 2026), the Swiss giant’s revenue rose by 20% at constant exchange rates and by 17% at current exchange rates, reaching 6.3 billion euro. An increase that clearly exceeded analysts’ forecasts, which in a Visible Alpha consensus had estimated revenue of 5.90 billion euro. Bloomberg, instead, expected growth of 11%. Jewellery soared (+24%), while sales in the group’s “Other” business area (which includes fashion and accessories) also grew by 9%. All regions delivered a positive performance, including the Middle East.
Richemont demolishes forecasts
Richemont’s first-quarter results disprove the luxury crisis. “This set of results demolishes the consensus”, says Luca Solca, analyst at Bernstein. According to him, as highlighted by Reuters, the vigorous growth should be attributed to the fact that the Swiss group managed to achieve what is the goal of all luxury players: attracting both the wealthiest clients and aspirational consumers. Richemont, in fact, appears to have benefited from the polarized growth of luxury. On one side, ultra-high-end jewelry aimed at the wealthiest customers; on the other, entry-level products with good value for money.
The first quarter surprises (positively)
From April to June 2026, Richemont’s revenues amounted to 6.3 billion euro, +20% at constant exchange rates and +17% at current exchange rates. The jewelry sector increased by 24% at constant exchange rates. Watchmaking posted +8%, while the “Other” category (724 million euro in revenue) was up 9% (+7% at current exchange rates). In the press release accompanying the data, Richemont underlines that this division, which brings together fashion and accessories, recorded revenue growth “in all regions except the Middle East and Africa. Performance was positive for most maisons. Double-digit increases for Peter Millar, Gianvito Rossi and Watchfinder & Co, as well as solid growth for Montblanc”.
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