Switzerland-based luxury goods group Richemont reported a strong start to fiscal 2027 (FY27), driven by broad-based growth across regions and distribution channels despite a volatile macroeconomic and geopolitical environment.
The group reported a strong start, with group sales rising by 20 per cent at constant exchange rates and 17 per cent at actual exchange rates to €6.33 billion (~$7.28 billion) in the first quarter ended June 30, 2026.
The growth was supported by robust local demand across major markets despite a volatile macroeconomic and geopolitical environment, Richemont said in a press release.
Within the Other business area, Richemont said performance was positive across most Maisons. Peter Millar, Gianvito Rossi and Watchfinder & Co posted double-digit sales growth. The segment expanded across all regions except the Middle East & Africa.
Regional Growth Led by the Americas and Japan
Sales increased across all geographic regions. The Americas led with a 27 per cent rise at constant exchange rates to €1.67 billion, followed by Japan with 36 per cent growth to €632 million. Asia Pacific sales climbed 21 per cent to €2.07 billion, Europe grew 11 per cent to €1.43 billion, while Middle East & Africa returned to growth with a 3 per cent increase to €530 million.
The Other business area, which includes Fashion & Accessories Maisons, generated €724 million in sales, increasing 9 per cent at constant exchange rates and 7 per cent at actual rates.
Retail leads growth across distribution channels
All distribution channels delivered growth during the quarter. Retail sales rose 24 per cent at constant exchange rates to €4.50 billion, representing 71 per cent of group sales. Online retail increased 18 per cent to €373 million, while wholesale and royalty income advanced 9 per cent to €1.45 billion.
Richemont said it continued to invest in supporting the long-term growth of its Maisons despite persistent macroeconomic and geopolitical uncertainty and elevated raw material costs.
The group ended the quarter with a robust net cash position of €9.1 billion, including a €0.4 billion cash inflow from the disposal of its stake in Avolta.
Fibre2Fashion News Desk (SG)
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