Cartier owner sees jewellery sales rise further
Richemont reports higher quarterly sales, driven mainly by its jewellery brands.
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Swiss luxury group Richemont sold more in the quarter to the end of September than a year earlier. Revenue from its jewellery division grew by 14 per cent and that of its watch brands by 12 per cent, measured at constant exchange rates.
Richemont owns Cartier and also owns Van Cleef & Arpels, Piaget and IWC, among others. According to Reuters, total revenue rose by 13 per cent in the quarter at constant exchange rates, to €5.95 billion. The measure adjusts for currency effects and is therefore not the same as revenue growth at current exchange rates.
The strongest growth came from the jewellery brands. RTÉ reports, based on the company’s results, that the jewellery division grew by 14 per cent in the quarter. The specialist watch brands recorded 12 per cent growth. Revenue from the jewellery division therefore grew faster in percentage terms than revenue from the watch brands.
The results mainly say something about the revenue of one international luxury company. They are not a direct measure of the disposable income of Dutch households or of the European retail sector as a whole. Luxury products are also bought by a relatively small group of consumers, meaning developments can differ sharply from broad consumer spending.
The figures are also sensitive to exchange rates. According to the company statement, Richemont reports both at constant and at current exchange rates. The difference is relevant to investors: a strong or weak euro can change revenue in euros without the number of products sold in local markets changing to the same extent.
The quarterly figures show revenue growth among Richemont’s jewellery brands, but provide no certainty about the rest of the luxury market. The publication contains no evidence that growth is broadly distributed across all consumers, countries or product categories. For Dutch companies, the significance lies mainly in international demand for luxury goods, tourist spending and the position of European brands.
Both sides of the figures
▲ Bright spots
- Richemont’s total revenue rose by 13 per cent in the quarter at constant exchange rates, according to Reuters.
- The jewellery division grew by 14 per cent and the watch brands by 12 per cent, according to RTÉ.
▼ Concerns
- The figures apply to one luxury group and are not representative of consumer spending as a whole.
- Revenue at current exchange rates may differ from growth at constant exchange rates.
Critical note
The revenue growth is nominal: it measures sales value rather than the real growth in units sold or consumers’ purchasing power. Nor do the results show how broadly growth is distributed across households and countries.
Who notices what
- Businesses
- Suppliers and retailers in the luxury segment may benefit from higher demand for jewellery and watches.
- Investors
- The results provide information about Richemont’s revenue development. Exchange rates can affect reported revenue.
- Households
- For most households, the revenue growth says little about their own purchasing power or spending capacity.
Every point comes from the article’s sources and was included in the fact check.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The revenue figures and divisional growth were checked against Reuters, RTÉ and the company statement. The text distinguishes constant exchange rates from current revenue and avoids conclusions about the consumer market as a whole.
- confirmed Total revenue grew by 13 per cent at constant exchange rates to €5.95 billion. — Reuters summary of the quarterly results. source
- confirmed The jewellery division grew by 14 per cent. — RTÉ, based on Richemont’s results. source
- confirmed The specialist watch brands grew by 12 per cent. — RTÉ, based on Richemont’s results. source
Editor's note
The percentages are calculated at constant exchange rates and relate to the quarter to the end of September. The news concerns Richemont, not the luxury market as a whole.Sources
- Cartier-owner Richemont quarterly sales beat estimates — RTÉ
- Cartier-owner Richemont beats sales forecasts — Reuters via MarketScreener
- Richemont posts strong results for the six-month period ended 30 September 2026 — Richemont
More on this in Dutch media
- NRC — „richemont cartier”
- NOS — „richemont cartier”
- Het Parool — „richemont cartier”