- Richemont group sales were up 13% in its fiscal Q3, driven by the Americas (+19%) and Japan (+23%).
- Sales at its jewelry maisons, including Cartier and Van Cleef & Arpels, were up 14%.
- Sales at its specialist watchmakers were up 10%, while sales of ‘other houses’, including fashion houses, were up 9%.
The breakdown
Jewelry sales at Cartier’s parent company decelerated in fiscal Q2, after surging 24% in Q1. Jewelry maisons’ sales were up 14% to €4.4 billion in the second quarter of fiscal 2027, below consensus expectations of a 16% growth, while Richemont posted group sales up 13% at constant exchange rates to €6 billion, above consensus expectations of 12%.
Sales at the specialty watchmakers division, including IWC Schaffhausen, Jaeger-LeCoultre and Piaget, were up 12%. Second-quarter sales at the conglomerate’s “other houses” division, which includes fashion and accessories brands, were up 9%.
By geography, Richemont sales in the Americas were up 19% in Q2, Europe was up 15%, Asia-Pacific increased by 10%, Japan rose by 23%, while the Middle East and Africa were down 7%.
Despite the slowdown, Richemont remains the best in class in this season’s earnings calendar.
