Barnstorming start to the financial year for Richemont

Richemont has released its Q1 sales figures for FY27, with sales up +17% year-on-year (+20% at constant rates).

Its watchmaking division — which includes Vacheron Constantin, Jaeger-LeCoultre, Panerai, and A. Lange & Söhne — delivered sales increases of +6% (+8% at constant rates).

In terms of regional performance, sales were led by strong demand in the Americas and Japan (+25% and +20% respectively), while the Middle East & Africa also grew by double digits, albeit only in the watches division. The UAE was singled out as a poor performing country, as it suffers from the ongoing fallout of recent geopolitical events.

The ongoing struggles of China and Hong Kong continued, but the declining sales in these countries was offset by growth across the other Asian markets.

Away from its watch maisons, pre-owned platform Watchfinder delivered double digit sales growth, helping the ‘other’ elements of Richemont’s Q1 sales to be up +9% (+7% at constant rates).

These impressive Q1 results will be particularly welcome, given the company’s worrying medium-term declining trend in turnover in recent years.