Today 4

Daily Analysis — 2025-07-17

RichemontLVMHMolliWatches of SwitzerlandRolexThe 1916 CompanyBucherer
Luxury JewelrySpecialist WatchmakingLuxury FashionE-commerceWatch RetailLuxury Goods ConglomerateCertified Pre-Owned Watches
ChinaJapanUnited StatesSwitzerland
Richemont’s Q1 FY26 results underscore the strength of its Jewellery Maisons driving double-digit growth while its Specialist Watchmakers segment grapples with soft demand in Asia and Japan. Meanwhile, LVMH’s seed investment in knitwear brand Molli and margin warnings from Watches of Switzerland highlight divergent capital allocation and tariff risks shaping luxury’s competitive battleground.

Key News for Today

Richemont reports 11% Jewellery Maisons growth in Q1 FY26

Why it matters: Jewellery strength offsets watch segment headwinds, highlighting portfolio resilience.
Impact: Solid jewellery performance should bolster group revenue growth while watch declines pressure margins.
What to follow: Monitor Richemont’s upcoming watch order book and Asian market sales trends.

LVMH Luxury Ventures invests in French knitwear brand Molli

Why it matters: Shows LVMH’s strategic focus on niche luxury fashion and global expansion via minority stakes.
Impact: Molli could accelerate international store openings and e-commerce growth under LVMH backing.
What to follow: Track Molli’s U.S. same-store sales and e-commerce revenue share.

Watches of Switzerland warns margins may fall due to U.S. tariffs

Why it matters: Tariff-driven price hikes and reduced retailer margins threaten profitability across luxury watch retail.
Impact: Operating profit margin could decline by up to 100 basis points despite 6–10% revenue growth guidance.
What to follow: Watch for final FY26 margin outcome and tariff resolution developments.

Bucherer charges 3× premiums on Rolex CPO compared to The 1916 Company

Why it matters: Highlights price variance in the growing certified pre-owned segment and dealer autonomy.
Impact: Could shift secondary market share towards lower-priced players like The 1916 Company.
What to follow: Compare CPO volume trends and average selling prices across major retailers.

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