Swiss luxury group Richemont reported that sales rose 13% at constant exchange rates in the fourth quarter of fiscal 2026, which ended on March 31. For the full year, the company’s sales increased 11% compared to the previous year, reaching €22.4 billion. Its net cash position stood at €8.5 billion.

Richemont’s jewelry division, which includes Cartier, Van Cleef & Arpels, and Buccellati, grew 16% in Q4—beating expectations of an 11% increase and outperforming the previous quarter, when jewelry sales grew 14%. Sales at specialist watchmakers like Vacheron Constantin and Piaget rose 2%. The ‘other’ businesses, which include fashion brands Chloé and Alaïa, grew 7%, despite current pressures in that category.

“Our cash flow this year was dramatically up,” Richemont chair Johann Rupert told reporters on a call. “And we’re relatively relaxed about the next 18 to 24 months.”

The jewelry supercycle continues. “Richemont’s results confirm the strong demand for branded luxury jewelry that we’ve already seen from several peers,” wrote Jefferies analyst James Grzinic. LVMH’s sales rose 1% in Q1, with its watches and jewelry division up 7%; Kering sales were flat, with jewelry up 22%; and Hermès grew 6%, with jewelry up almost 10%.

By region, Japan (+28%), the Americas (+18%), and Asia-Pacific (+14%) led Richemont’s growth in Q4, while Europe grew 5%. Sales in the Middle East and Africa fell 3%.

Since February, the luxury sector has been hit hard by the crisis in the Middle East, and Richemont is no exception. When asked if business is picking up slightly in the region, Rupert said: “Until the tourists return, I don’t think anyone can expect a big uptick. But it’ll come back. I think we’re going to have to start thinking of the turbulence in the world as the new norm. We just keep a low profile, try to be conservative, and maintain a clean balance sheet.”

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The decline in the region was more than offset by the group’s strong performance in the US and Asia. Bernstein luxury goods analyst Luca Solca called the 18% growth in Asia-Pacific “reassuring.” Richemont performed well in China, despite growing competition from local brands like Chinese jeweler Laopu. “Laopu or not, Richemont’s jewelry maisons seem to be reigniting growth in Asia, easing fears that local brands are taking over,” Solca wrote.

On the call, Richemont CEO Nicolas Bos emphasized that Chinese customers are drawn to novelty, rather than shifting from international to local brands. “An interesting example for us is Buccellati, which has been expanding in Mainland China and is doing very well—I think it’s seen as a new and exciting brand,” he said. “We see the same with Van Cleef & Arpels and Cartier, where new collections are performing very well. So it’s really up to us to keep offering renewal and creativity.”

Some analysts have noted that a fresh wave of creativity in fashion could shift consumer spending away from jewelry and toward ready-to-wear and handbags, potentially slowing the jewelry sector’s momentum. So far, that hasn’t happened: “Richemont’s jewelry maisons continue to outperform the industry benchmark [LVMH’s fashion and leather goods division] by 18 percentage points [compared to 17 percentage points in Q4 2025],” Bernstein’s Solca wrote. LVMH’s fashion sales were down 2% in Q1.

Has Alaïa found its next creative director after Pieter Mulier’s departure? “We’re doing very well at Alaïa right now with the studio,” Bos told press. “And actually, I want to pay tribute to what Pieter Mulier did and how he handled the transition. He was absolutely gracious, keeping the spirit of the brand and ensuring that the transition and the future were in good shape. So we’ll take our time to see how things develop.”

As for the next fiscal year, Citi managing director Thomas Chauvet wrote: “We expect consensus 2027 sales [up 7% to €23.9 billion] to remain unchanged, and EBIT to be reduced by a low-single-digit percentage.”The percentage reflects ongoing cost pressures.

Frequently Asked Questions
Here is a list of FAQs about Richemonts jewelry sales increase covering beginner to advanced topics

BeginnerLevel Questions

1 What does it mean that Richemonts jewelry sales went up by 16
It means that in the last three months of their financial year Richemont sold 16 more jewelry than they did during the same period the year before This is a big jump and shows strong customer demand

2 Which brands are included in Richemonts jewelry sales
The main brands are Cartier Van Cleef Arpels and Buccellati These are the luxury jewelry brands that drive most of that sales number

3 Is this good news for the company
Yes very good news A 16 increase is considered strong growth especially for a luxury goods company It suggests that wealthy customers are still spending heavily on highend jewelry

4 Does this mean all Richemont products sold well
No The 16 increase was specifically for their jewelry division Their other divisions may have had different results The jewelry brands were the star performers

AdvancedLevel Questions

5 What is driving the 16 growth in jewelry sales
Analysts point to a few key factors strong demand from wealthy consumers the popularity of iconic collections like Cartiers Love and Panthre and price increases on luxury goods that actually boost sales revenue even if fewer items are sold

6 How does this compare to the rest of the luxury market
Its outperforming the average Many luxury brands have seen slower growth or even declines recently Richemonts jewelry division is a standout suggesting that highend jewelry is more resilient than other luxury categories during economic uncertainty

7 Did the 16 growth come from selling more items or just raising prices
Its likely a mix In luxury price increases are common and can inflate the revenue number However Richemont reported that the growth was also driven by volume and a shift toward higherpriced items not just price hikes alone