FinancialsOct 20, 2021
Kering’s Jewelry Brands See Strong Q3 GrowthFinancialsNov 16, 2021
Richemont’s H1 Buoyed by Watch, Jewelry Sales
Sales in both categories surpassed pre-pandemic levels in the first half.
Richemont headquarters in Geneva, designed by architect Jean Nouvel. The company’s first-half sales were up 63 percent year-over-year, with jewelry and watch sales particularly strong. (Image courtesy of Richemont)
Geneva—Richemont experienced double-digit growth across all categories in its first half, surpassing pre-pandemic levels.
The luxury titan posted a 63 percent year-over-year increase in first-half sales at actual exchange rates of €8.91 billion ($10.19 billion), compared with €5.48 billion ($6.27 billion) in 2020.
Compared with pre-pandemic 2018, sales were up 20 percent year-over-year.
The company’s jewelry houses and specialist watchmakers once again were growth leaders, said Richemont.
“Cartier and Van Cleef & Arpels have reaffirmed their leadership position as jewelers of choice while Buccellati’s distinctive savoir faire and aesthetics are getting international recognition,” said Chairman Johann Rupert in the company’s press release.
Sales in Richemont’s jewelry division were up 67 percent in the first six months, reaching €5.09 billion ($5.83 billion), compared with €3.06 billion ($3.5 billion) a year ago.
Compared with pre-pandemic levels, sales in the division were up 36 percent.
“Overall, the Americas, Asia Pacific, Middle East and Africa exceeded prior 2019 levels with Europe back to growth in the second quarter, supported by sustained local demand and initial signs of a resumption of international tourism,” said Richemont.
Buccellati, which Richemont acquired in September 2019, continued its growth, particularly in the Asia Pacific region and Japan. Its “Tulle” collection performed especially well.
Cartier’s “Panthère” and Van Cleef’s “Frivole” also saw strong sales.
“The jewelry maisons emerged stronger from the crisis,” said Sophie Cagnard, group corporate communications director. “We posted a stellar first half across all regions and channels versus the prior- year period.”
The strongest growth came from Europe and the Americas, said Cagnard, while Asia Pacific also saw strong growth and “provided the highest contribution to the increase in sales.”
Operating results more than doubled, up 109 percent in the category due to higher sales and media spend as well as efficient use of its manufacturing facilities and cost control.
The company also invested in store renovations, including the Cartier boutiques in Geneva, Switzerland and Singapore.
There were a few new store openings, including Buccellati in Tokyo, Cartier in Paris, and Van Cleef in Las Vegas.
Related stories will be right here …
The luxury titan posted a 63 percent year-over-year increase in first-half sales at actual exchange rates of €8.91 billion ($10.19 billion), compared with €5.48 billion ($6.27 billion) in 2020.
Compared with pre-pandemic 2018, sales were up 20 percent year-over-year.
The company’s jewelry houses and specialist watchmakers once again were growth leaders, said Richemont.
“Cartier and Van Cleef & Arpels have reaffirmed their leadership position as jewelers of choice while Buccellati’s distinctive savoir faire and aesthetics are getting international recognition,” said Chairman Johann Rupert in the company’s press release.
Sales in Richemont’s jewelry division were up 67 percent in the first six months, reaching €5.09 billion ($5.83 billion), compared with €3.06 billion ($3.5 billion) a year ago.
Compared with pre-pandemic levels, sales in the division were up 36 percent.
“Overall, the Americas, Asia Pacific, Middle East and Africa exceeded prior 2019 levels with Europe back to growth in the second quarter, supported by sustained local demand and initial signs of a resumption of international tourism,” said Richemont.
Buccellati, which Richemont acquired in September 2019, continued its growth, particularly in the Asia Pacific region and Japan. Its “Tulle” collection performed especially well.
Cartier’s “Panthère” and Van Cleef’s “Frivole” also saw strong sales.
“The jewelry maisons emerged stronger from the crisis,” said Sophie Cagnard, group corporate communications director. “We posted a stellar first half across all regions and channels versus the prior- year period.”
The strongest growth came from Europe and the Americas, said Cagnard, while Asia Pacific also saw strong growth and “provided the highest contribution to the increase in sales.”
Operating results more than doubled, up 109 percent in the category due to higher sales and media spend as well as efficient use of its manufacturing facilities and cost control.
The company also invested in store renovations, including the Cartier boutiques in Geneva, Switzerland and Singapore.
There were a few new store openings, including Buccellati in Tokyo, Cartier in Paris, and Van Cleef in Las Vegas.
Sales in Richemont’s specialist watchmakers division were up 74 percent to €1.68 billion ($1.92 billion), compared with €966 million ($1.1 billion) in 2020.
Compared with pre-pandemic levels, sales were up 7 percent.
Strong demand from local clientele drove watch sales, said Richemont, and it was seen across all houses, channels, and regions.
“The shift in demand from a multi-brand environment toward directly operated stores, the maison’s e-commerce sites and mono-brand franchise stores accelerated and drove this strong performance,” said the company.
Sales from mono-brand stores now account for 69 percent of sales among Richemont’s watch brands.
The demand for new references was high, including for Odysseus from A. Lange & Söhne, Pilot from IWC Schaffhausen, Reverso from Jaeger-LeCoultre, Luminor from Panerai, and Overseas from Vacheron Constantin.
The Piaget flagship store on London’s New Bond Street was renovated while two new stores opened, including Jaeger-LeCoultre in Wuhan, China and Panerai in Shanghai Qiantan Taikoo Li, China.
Breaking down watch sales by region, the Americas recorded the strongest performance, with sales more than doubling, up 114 percent at actual exchange rates.
In second place was Europe, with sales up 63 percent, followed by the Middle East and Africa (55 percent), Asia Pacific (48 percent), and Japan (44 percent).
Retail sales at the 1,259 Richemont-owned and -operated watch boutiques, including Watchfinder & Co., were up 70 percent.
Wholesale sales were up 71 percent in the quarter while online retail sales grew 35 percent.
The company did not provide financial guidance for the year ahead, but Rupert said, “We look to the remainder of the year with vigilance and cautious optimism: the appeal and enduring nature of our distinctive and highly qualitative creations resonate well with the values and expectations of our discerning clientele.”
Editors' Picks
Sponsored by
More on Financials
The Latest
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
