MajorsMar 30, 2022
RJC Executive Director Resigns, Major Companies Exit Over Russia InactionMajorsApr 21, 2022
Cartier May Raise Prices 3-5%, CEO Says
Cyrille Vigneron told Bloomberg the brand is considering a price hike in part to cover the higher costs of diamonds, platinum, and gold.
During an interview with Bloomberg, Cartier CEO Cyrille Vigneron said customers could see a “mild” price increase in the near future.
New York—Fine jewelry shoppers could soon pay more for their Cartier baubles.
In a recent interview with Bloomberg, Cartier CEO Cyrille Vigneron said the brand might be raising its prices, possibly between 3 and 5 percent, in the coming weeks.
Cartier is considering the “mild” price increase to offset currency fluctuations and cover the higher costs of materials, like diamonds, platinum and gold, he said.
Cartier is under the umbrella of luxury titan Richemont, alongside Van Cleef & Arpels and Buccellati as well as a stable of watch brands including Baume & Mercier, IWC, and Jaeger-LeCoultre.
The brand is a top performer for Richemont, with its “Panthère de Cartier” designs remaining consistently popular with its clientele.
Rising prices have not yet deterred luxury shoppers, with LVMH, Watches of Switzerland, and Brilliant Earth reporting double-digit revenue growth in their most recent results.
“The overall growth of world wealth and the overall distribution is coming in favor of global luxury,” he said.
A possible increase in diamond prices could also factor into pricing decisions, said Vigernon.
Diamond miner Alrosa, the world’s largest diamond producer by volume, has been sanctioned by the United States and other nations following Russia’s invasion of Ukraine.
Last year was a banner year for diamond jewelry sales, and that momentum has continued into this year, so a shortage of supply caused in part by the restrictions placed on Alrosa coupled with strong demand could spell higher diamond prices.
But as Alrosa steps back, other miners could step in, said Vigneron, meaning any potential price increase would be short-lived.
Related stories will be right here …
In a recent interview with Bloomberg, Cartier CEO Cyrille Vigneron said the brand might be raising its prices, possibly between 3 and 5 percent, in the coming weeks.
Cartier is considering the “mild” price increase to offset currency fluctuations and cover the higher costs of materials, like diamonds, platinum and gold, he said.
Cartier is under the umbrella of luxury titan Richemont, alongside Van Cleef & Arpels and Buccellati as well as a stable of watch brands including Baume & Mercier, IWC, and Jaeger-LeCoultre.
The brand is a top performer for Richemont, with its “Panthère de Cartier” designs remaining consistently popular with its clientele.
Rising prices have not yet deterred luxury shoppers, with LVMH, Watches of Switzerland, and Brilliant Earth reporting double-digit revenue growth in their most recent results.
“The overall growth of world wealth and the overall distribution is coming in favor of global luxury,” he said.
A possible increase in diamond prices could also factor into pricing decisions, said Vigernon.
Diamond miner Alrosa, the world’s largest diamond producer by volume, has been sanctioned by the United States and other nations following Russia’s invasion of Ukraine.
Last year was a banner year for diamond jewelry sales, and that momentum has continued into this year, so a shortage of supply caused in part by the restrictions placed on Alrosa coupled with strong demand could spell higher diamond prices.
But as Alrosa steps back, other miners could step in, said Vigneron, meaning any potential price increase would be short-lived.
Another top jewelry executive, Signet Jewelers CEO Virginia Drosos, addressed the topic of price increases during an earnings call last month.
Vacations and jewelry often battle it out for consumers’ discretionary dollars, she noted, but since consumers have been willing to spend money on flights priced significantly higher than pre-pandemic rates, the same could be true for jewelry.
Drosos noted that double-digit increases on travel costs would be bigger than any price increases Signet customers might see as a result of the U.S. ban on Russian diamonds.
As for Cartier’s operations in Russia, Vigneron told Bloomberg it has continued to pay its 250 employees in Russia.
Parent company Richemont joined Pandora and other companies in leaving the Responsible Jewellery Council last month, citing the group’s lack of action on Alrosa.
Alrosa later suspended its membership.
“We’re not trying to make a statement per se; we’re trying to uphold the very high standards we’ve been shaping over [the] last 15 years. If RJC cannot uphold [the] highest of standards, then we cannot be part of that. That’s why we stepped down,” Richemont Chief Financial Officer Burkhart Grund said last month.
Richemont is scheduled to announce its quarterly results on May 20.
More on Majors
The Latest
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
FinancialsNov 07, 2025
Watches of Switzerland’s H1 Sales Up 8%The retailer also shared an update on the impact of tariffs on watch customers.
SourcingNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
SourcingNov 06, 2025
De Beers’ Production, Sales Increase in Q3 De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
AuctionsNov 05, 2025
Taylor Swift’s Engagement Ring Designer Makes Her Auction DebutKindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.
FinancialsNov 05, 2025
Pandora Posts Modest Q3 Sales Growth Amid ‘Weak’ Consumer Sentiment The company focused on marketing in the third quarter and introduced two new charm collections, “Pandora Talisman” and “Pandora Minis.”
FinancialsNov 05, 2025
Brilliant Earth’s Q3 Sales Climb 10%The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.
Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayAhead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.
MajorsNov 04, 2025
Danny Clark to Become Stuller CEO, Succeeding Matt StullerStuller COO Belit Myers will take on the additional role of president, with all changes effective at the start of 2026.
ColumnistsNov 04, 2025
Peter Smith: What Do Birds Have to Do With the Price of Gold? Smith cautions retailers against expending too much energy on things they can’t control, like the rising price of gold.
TrendsNov 04, 2025
Amanda’s Style File: Fall Colors for November BirthdaysCitrine and topaz are birthstones fit for fall as the leaves change color and the holiday season approaches.
IndependentsNov 04, 2025
Weston Jewelers Heads to Fort LauderdaleThe family-owned jeweler will open its fourth store in Florida in late 2027.
