Richemont, the Swiss luxury conglomerate behind jewellery houses Cartier and Van Cleef & Arpels, delivered a stronger-than-expected start to its financial year on Wednesday, with first-quarter sales beating analyst forecasts on the back of robust demand from American and Asian shoppers.
The Geneva-based group reported sales of €5.27bn for the three months to 30 June 2026, above the consensus estimate of €5.21bn compiled by Visible Alpha. Comparable sales rose 6% year-on-year, driven by an 11% jump in the Americas and a 10% increase in Asia-Pacific, excluding Japan. Europe posted more modest growth of 2%.
The results provided a welcome lift for the wider luxury sector, which has faced headwinds from a slowdown in Chinese spending and geopolitical uncertainty. Shares in Richemont rose more than 3% in early trading, while UK-listed Burberry — which reports its own first-quarter figures next week — gained 1.5% in sympathy. The Stoxx Europe 600 Personal & Household Goods index, which includes luxury names, edged up 0.7%.
Analysts at RBC Capital Markets described the update as “reassuring”, noting that Richemont’s performance suggests high-end consumers remain willing to spend on aspirational goods despite cost-of-living pressures. “The Americas continue to surprise on the upside, and Asia-Pacific appears to have stabilised after a softer patch,” they said in a note.
For UK investors and pension holders with exposure to European equities, the strong showing from Richemont is a positive indicator for the luxury sector’s health. Burberry, which derives a significant portion of its revenue from Chinese and American tourists, is seen as a key beneficiary if the trend holds. However, analysts caution that the broader macroeconomic backdrop — including potential tariffs and a slowdown in China’s property market — remains a risk.