Jewelry Sales Jump 38% in Q3 for Richemont
Cartier, Van Cleef & Arpels and Buccellati were top performers for the luxury conglomerate over the key holiday season.

In the third quarter ended Dec. 31, revenue from jewelry sales climbed 38 percent at constant exchange rates, topping €3 billion ($3.41 billion) and accounting for more than 50 percent of Richemont’s total Q3 sales (€5.66 billion/$6.43 billion).
Richemont owns Cartier, Van Cleef & Arpels and Buccellati.
Sales of the fashion and accessory brands under the Richemont umbrella were a close second in terms of sales growth, with sales up 37 percent year-over-year in Q3.
The company’s watch brands, a stable of eight that includes Jaeger-LeCoultre, Baume & Mercier and Piaget, recorded year-over-year sales growth of 25 percent, totaling €977 million ($1.11 billion).
Sales for online distributors, a group that includes pre-owned watch retailer Watchfinder & Co. and Net-a-Porter, were up 15 percent.
Compared to the third quarter ended Dec. 31, 2019, pre-pandemic, jewelry sales were up 57 percent, while sales grew 20 percent for Richemont’s watch brands.
Richemont described the growth in jewelry sales as “broad-based,” with no product line or price point emerging as a sales standout, and all regions and distribution channels performing well too.
Channel-wise, Richemont’s own retail network was the top performer, with sales up by 45 percent year-over-year in the third quarter. Online retail sales grew 19 percent while wholesale sales were up 14 percent.
Direct sales to consumers now account for 78 percent of Richemont’s total sales, up from 75 percent a year ago.
By region, the Americas posted the strongest year-over-year sales growth but still lags Asia Pacific and Europe in terms of total dollar sales.
Third-quarter sales in the Americas shot up 55 percent at constant exchange rates, totaling €1.33 billion ($1.48 billion).
Sales in the Asia Pacific region grew 18 percent and totaled €2.13 billion ($2.42 billion) while in Europe, Q3 sales reached €1.41 billion ($1.6 billion), a 42 percent increase.
The Latest

The event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.

After the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.

The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

The rapper and singer-songwriter will perform at Tao Beach on June 8.


“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Emergencies can happen anytime, anywhere , and Jewelers of America has what you need to be prepared for it all.

The moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.

The “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.

Breitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.

Dubbed the “Mediterranean Blue,” this “remarkably rare” diamond will be part of Sotheby’s May jewelry auction in Geneva.

The American Gem Society now offers a Jewelry Evaluation Advisor designation as well as an updated Certified Sales Associate designation.

Rebecca Zeijdel-Paz created more than 75 new pieces for the residency, which will be on display at Trove’s store in New York through April.

Smith explores why a qualified candidate might still not be right for the job.

The company and its marketing agency, Loudr, were recognized for the “Make You Dance” marketing campaign.

The “Series8” and “Attesa” collections will be grouped under Citizen Premier.

David Fager, a former systems engineer at the retailer, was promoted to the role.

From retailers to designers and the media, the fine jewelry industry recognized one another’s work and looked to the future.

Eleanor H. Yeh is the recipient of the eighth annual Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.

Joseph Cavalcante takes on the dual role as the Spanish jewelry brand looks to expand further into the U.S. market.

The trade show has also upgraded its venue to the Caesars Forum Conference Center.

The Dayton-based jeweler, which has been in business since 1985, was formerly known as Stafford Jewelers.

Reeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.

The piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.

The Indian jewelry brand recently opened stores in Atlanta and Seattle.

The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.