Swiss luxury group Richemont, which owns high-end jewellery brands such as Cartier, reported first-quarter revenue of 6.33 billion euros, up 20% from a year earlier excluding currency effects, exceeding the average analyst forecast of 5.9 billion euros. Jewellery revenue surged 24%, far outpacing the 13.5% growth expected. By region, growth accelerated in Asia and the Americas, Europe also posted higher revenue, and the Middle East returned to a growth trajectory. Strong performance in Greater China supported investor sentiment, but analysts noted that the positive results are likely to have limited spillover effects given other companies' low exposure to the jewellery segment.
Compagnie Financière Richemont SARevenue growth of 20% and jewellery sales up 24%, beating expectations, driven by strong demand across regions.