Swiss luxury group Richemont has beaten analyst sales forecasts, as the jewelry boom continues to show no signs of slowing down.

Richemont reported that group sales rose 20% at constant exchange rates to €6.3 billion in the first quarter of fiscal 2027, which ended on June 30. The group exceeded market expectations “across the board,” according to Bernstein analyst Luca Solca in a note. The company’s organic growth was nearly double the forecast of 11%.

Richemont’s jewelry division, which includes Cartier, Van Cleef & Arpels, Buccellati, and Vhernier, grew 24% in the first quarter to €4.7 billion. This was an improvement from the previous quarter, when jewelry sales increased by 16%. Sales at specialist watchmakers like Vacheron Constantin and Piaget rose 8% to €873 million. Other businesses, including fashion brands Chloé and Alaïa, were up 9%.

Richemont kicks off an earnings season where jewelry is expected to remain the standout performer, while growth in soft luxury stays sluggish. LVMH’s fashion and accessories sales are expected to rise by 1% in its July 27 call, while its watches and jewelry division is forecast to post 8% sales growth. Analysts say Kering’s sales (announced on July 28) are on track to increase by 2%, with jewelry sales up 18%.

Read More: Luxury’s Second-Quarter Earnings Cheat Sheet by Laure Guilbault

By region, Japan (+36%), the Americas (+27%), and Asia-Pacific (+21%) led Richemont’s growth in the first quarter. “Japan is the biggest positive surprise,” Solca wrote. The company attributed this to strong local demand and tourist spending. The comparison base was also easier: Japan sales fell 15% in the same period last year.

In Asia-Pacific, sales in China, Macau, and Hong Kong grew by double digits — “which should be seen as positive given concerns about Chinese luxury demand,” Deutsche Bank analysts noted. Growth in South Korea and Taiwan was especially strong, according to Richemont. South Korea is expected to be a standout market for luxury companies this quarter, thanks to a thriving tech sector that boosts wealth and luxury demand.

Europe grew 11% to €1.4 billion, driven by local customers and tourists from the US and the Middle East. Sales in the Middle East and Africa rose 3%, with resilient local demand in the Middle East offsetting weaker tourist spending in the region.

Richemont sales are expected to increase by 8.8% in 2026, according to the Visible Alpha consensus. “We expect significant upward revisions to fiscal 2027 estimates due to a strong start to the fiscal year. Richemont remains our top pick,” Solca concluded.

“We see these results as a positive sign for the broader luxury sector, although it’s still unclear how much of the strength came from luxury spending on jewelry in general versus Richemont specifically,” Deutsche Bank analysts wrote in a note.

Frequently Asked Questions
Here is a list of FAQs about Richemonts 24 jewelry sales increase written in a natural conversational tone with clear answers

BeginnerLevel Questions

1 What exactly does Richemont mean Is that a jewelry store
Its the name of the parent company that owns several luxury brands including Cartier Van Cleef Arpels and Buccellati So when they report sales its for all those brands combined

2 So which brands specifically drove this 24 increase
The biggest drivers were Cartier and Van Cleef Arpels Buccellati also contributed but its a smaller brand

3 Is this just for the US or is it global
Its global but the strongest growth came from the Americas and Europe Japan and the Middle East also saw strong gains

4 Does this mean people are buying more expensive jewelry or just more pieces
Both Richemont reported higher sales volumes and higher average prices Their strategy is to focus on highvalue iconic pieces that hold their value

5 What does this mean for me as a regular jewelry buyer
It means demand for luxury jewelry is very high If youre looking for a specific Cartier or Van Cleef piece you might face longer wait times or fewer discounts Prices may also continue to rise

Advanced Strategic Questions

6 How does this compare to other luxury goods companies right now
Its very strong Many other luxury brands have reported slowing growth or even declines Richemonts jewelry division is outperforming the broader luxury market by a wide margin

7 Is this growth sustainable or is it a onetime spike
Analysts are cautiously optimistic The 24 jump is partly due to a weak comparison period However Richemonts focus on hard luxury is seen as more resilient than soft luxury which is more