Richemont reported a 6% year-on-year sales increase at constant currency (CCY) to €5.4 billion for Q1 ending June 30, 2025.At actual exchange rates, growth stood at 3%, with currency headwinds weighing on results. Despite a challenging global backdrop, the performance signals a steady recovery from last year’s luxury market slump.

Jewellery remained the standout segment, with the company’s four Maisons — Cartier, Van Cleef & Arpels, Buccellati, and Vhernier — posting strong 11% growth to €3.914 billion. This marks the third straight quarter of double-digit growth, supported by both jewellery and watches, and driven by all regions except Japan.

However, the Specialist Watchmakers division struggled, with sales falling 7% to €824 million due to weaker performance in China, Hong Kong, Macau, and Japan. Double-digit growth in the Americas provided partial relief.

Richemont’s ‘Other’ division — which includes fashion and accessories brands — saw a 1% drop at CCY and 4% decline on a reported basis, totaling €674 million. While Peter Millar, Alaïa, Chloé, and Watchfinder showed strength, no update was given on Dunhill, Delvaux, Montblanc, or other labels.

Regionally, Europe (+11% to €1.295 billion), the Americas (+10% reported, +17% CCY to €1.335 billion), and the Middle East & Africa (+11% reported, +17% CCY to €524 million) all performed well. Asia Pacific was flat at CCY but down 4% reported (€1.731 billion), while Japan declined sharply (-15% CCY, -13% reported) to €527 million due to tough comparatives and reduced tourist spending.