Richemont stock posts strong first-half growth as profit jumps

Richemont reported strong first-half results on Friday, November 13, 2026, for the six months ended September 30. In its Richemont announcement carried by GlobeNewswire, the Swiss luxury group said sales reached 12.3 billion euros, up 16 percent at actual exchange rates and 17 percent at constant rates.

Growth remained broad-based despite a volatile geopolitical and macroeconomic backdrop. Second-quarter sales increased 13 percent at constant rates, following 20 percent growth in the first quarter and a 14 percent comparison in the prior-year period.

Jewellery remains the main growth engine

Jewellery Maisons, including Cartier, Van Cleef & Arpels, Buccellati and Vhernier, increased first-half sales by 18 percent at actual exchange rates and 19 percent at constant rates. The segment generated an operating result of 3.2 billion euros, compared with 2.5 billion euros a year earlier. Its operating margin was 35.3 percent, or 33.4 percent excluding positive one-time items.

Richemont said demand for iconic jewellery and watch collections remained strong across geographies. The group maintained a measured pricing approach while continuing to invest in its retail network and manufacturing capabilities, even as raw material costs stayed elevated.

Watchmakers show signs of recovery

Specialist Watchmakers lifted sales by 9 percent at actual exchange rates and 10 percent at constant rates to 1.7 billion euros. Second-quarter growth accelerated to 12 percent at constant rates. Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Söhne led the division, supported by established collections and new products.

The division's operating profit rose to 150 million euros from 50 million euros in the prior-year period. The operating margin reached 8.8 percent, or 7.7 percent excluding positive one-time items. Richemont cautioned that the recovery may not be linear, with demand in China still soft and the industry environment challenging.

Regional growth remains uneven

Japan, the Americas and Asia Pacific led regional performance, while Europe also delivered growth. Middle East and Africa was the only region without an increase, reflecting weaker demand against a backdrop of continued conflict. Direct-to-client sales accounted for 78 percent of group sales, two percentage points more than in the prior-year period.

Group operating profit rose 33 percent to 3.1 billion euros. Excluding a positive 229 million euro tariff-related one-time item, operating profit was 2.9 billion euros. Profit for the period increased 39 percent to 2.5 billion euros, while net cash stood at 7.7 billion euros at September 30.

Market context for investors

Richemont stock traded at 181.93 euros on Lang & Schwarz at 11:42 CET on Friday, November 13, 2026.

Management said macroeconomic and geopolitical conditions are likely to remain volatile. The group intends to preserve operational discipline while continuing to invest in its brands, creativity and craftsmanship. For investors, Jewellery Maisons remain the central earnings driver, while watchmaking recovery and Chinese demand are important swing factors.

Swiss equities are tracked through the SMI for broader market context.

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