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Richemont beats sales forecasts as China improves
- In the third fiscal quarter ended December 31, Richemont reported group sales grew 11% year-on-year at constant exchange to €6.4 billion, beating forecasts in a trading update published this week, updated Jan. 15.
- Amid the gifting season, jewellery led Richemont's growth, with sales up 14% to 4.79 billion, supported by novelties like bracelets and pendants, while specialist watchmakers increased sales 7% to 872 million.
- Regional breakdown shows the Americas up 14%, Europe climbed 8% supported by local demand and tourists, Japan grew 17%, Middle East and Africa 20%, and fashion and accessories maisons rose 3%.
- Analysts said the beat should encourage long-term investors and is a positive signal for the wider luxury sector ahead of peers reporting later this month.
- Berenberg's Nick Anderson wrote that `The Chinese consumer holds the key to luxury and is thus the critical sector theme for 2026`, while Bernstein analysts see more than 50% odds of a constructive recovery.
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·Düsseldorf, Germany
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Coverage Details
Total News Sources22
Leaning Left2Leaning Right4Center3Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
L 22%
C 33%
R 45%
Factuality
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