Richemont in Switzerland starts the tax year with strong sales of $ 6.2 billion Q1

The Swiss Luxury Group Richemont reported a solid beginning of 2026 (FY26), with sales increases by 6 % on an annual basis (YOY) at constant exchange rate to 5.41 billion euros (~ 6,27 $ 6.27 billion) in the first quarter ended on June 30, 2025.As for the Region, the growth has been guided by double -digit increases in Europe, the Americas, the Middle East and Africa, rather than compensating the drop in sales of Japan against high comparative of the previous year; Sales in the Pacific Asia region remained stable, Richemont said in a press release.

Richemont has reported a strong start for the tax year with the sales of the first quarter which increase by 6 % on an annual basis at constant rates to 5.41 billion euros (~ $ 6.27 billion). The growth was led by Europe, the Americas and the Middle East and Africa, compensating for the drop in Japan. All sales channels grew by 6 %. The group has maintained a strong clear position in cash of € 7.4 billion (~ $ 8.58 billion) to 30 June 2025.

In Europe, sales have grown by 11 %, guided by the robust demand by local customers and the overall positive tourist expenditure. Almost all the main markets in the region have seen an increase in sales in this quarter, with significant performances in Italy and Germany.

In the Americas, the growth in sales remained strong at 17 %, guided by the local support demand in all business areas and markets. Sales in the region of the Middle East and Africa increased by 17 %, led by the United Arab Emirates market and the highest tourist expenditure.

In Japan, Sales decreased by 15 % compared to a 59 % comparative which requires in the period of the previous year, with a strengthening of the Yen which strongly reduces tourist expenditure, in particular by Chinese customers, while the local demand remained positive.

Sales of Pacific Asia were overall stable compared to the previous year, since a 7 % drop in China, Hong Kong and Macao Combinati was completely compensated by a solid growth in almost all other Asian markets. Sales in Australia and South Korea have been falling, added the release.

As for the channel, all the distribution channels have recorded a 6 % growth at constant exchange rates. The retail sale contributed with 3.73 billion euros, equal to 69 % of group sales, with a growth observed in all regions except Japan. The online retail sale rose to € 323 million and wholesale and royalty income reached 1.36 billion euros, led by increases in the Americas, Europe and the Middle East and Africa.

Richemont has maintained a solid position in net cash of 7.4 billion euros (~ $ 8.58 billion) to 30 June 2025, slightly increasing from 7.3 billion euros in the previous year. This follows a 426 million euro cash out of cash relating to the sale of Ynap in MyTheresa on April 23, 2025.

Fiber2fashion news desk (sg)