Story Highlight
– Specialist Watchmakers’ sales rose 7% in Q3 2026.
– Growth driven by Americas and Middle East & Africa.
– Richemont’s share price up 23% over the past year.
– Total group sales reached €6.4 billion, up 11%.
– UK watch market contracted 10.2% amid Richemont’s growth.
Full Story
Richemont’s Specialist Watchmakers, which excludes brands such as Cartier and Van Cleef & Arpels, has reported a 7% rise in global sales for the critical October to December quarter compared to the previous year. This marks the second successive quarter of growth for the luxury watch division, which has benefitted from substantial gains in the Americas and the Middle East & Africa.
In terms of share performance, Richemont’s stock has appreciated over 23% in the last year, reflecting optimistic market sentiment regarding prospects in China. However, early trading today saw a slight decrease of 1.5% in share value.
The watchmaking segment encompasses prestigious brands including A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin. These latest financial results pertain to Richemont’s third quarter for the fiscal year ending in March 2026. The recent growth is particularly notable for a segment that has faced declining turnover after reaching a peak in the 2022-23 financial year.
Additionally, Watchfinder & Co., Richemont’s specialist in pre-owned luxury watches, experienced double-digit growth during the same period. In the realm of jewellery, brands such as Buccellati, Cartier, Van Cleef & Arpels, and Vhernier recorded a 14% increase in sales when adjusted for constant currency, with strong performances in both jewellery and watch sales, according to Richemont.
Overall, total group sales rose by 11% to €6.4 billion, with jewellery maisons contributing €4.8 billion and watchmakers yielding €872 million. Every sales channel played a role in this growth, with direct-to-consumer retail growing by 12%, now representing 72% of total group turnover. The wholesale segment increased by 9%, showcasing double-digit growth across jewellery and watch brands in all regions, while online retail sales saw a 5% rise, largely driven by jewellery sales.
In contrast to Richemont’s global success, watch sales in the UK have been declining. GfK has reported a significant 10.2% contraction in the UK watch market. While Richemont experienced growth throughout 2025, the UK’s watch market saw a marked decrease, finishing the year nearly flat with a slight decline of 0.4%. The initial 6.6% growth observed in the first quarter of 2025 was entirely offset by declining sales during the pre-Christmas quarter.
