Core Insights - Richemont Group reported strong Q1 results for FY2026, driven primarily by robust demand in the jewelry segment, despite a downturn in the luxury goods industry [1][2] Financial Performance - Q1 sales reached €5.41 billion, a 6% increase at constant exchange rates, exceeding expectations by 5.34%, and a 3% increase at actual exchange rates [2] - Jewelry sales grew by 11% to €3.91 billion, significantly surpassing the expected 8.55%, marking the third consecutive quarter of double-digit growth [6] - Net cash stood at €7.4 billion, reflecting a €100 million increase year-on-year [2] Business Segment Analysis - Jewelry segment accounted for 72% of total sales, with brands like Cartier and Van Cleef & Arpels contributing to the growth [6] - Specialist watchmakers saw a decline of 7% to €824 million, while other business areas experienced a slight decrease of 1% [2][4] Regional Performance - Strong growth was observed in the Americas (+17%) and Europe (+11%), driven by local demand and increased tourism spending [3][7] - Asia Pacific remained stable, with Japan experiencing a significant decline of 15% due to high base effects and currency fluctuations [3][7] Distribution Channel Insights - Retail sales reached €3.73 billion, a 6% increase, accounting for 69% of total sales, with growth across all regions except Japan [2][4] - Online retail sales also grew by 6% to €323 million, while wholesale and royalty income increased by 6% to €1.36 billion [2][4]