FinancialsDec 06, 2022
Signet Anticipates Solid Holiday Season, Raises GuidanceFinancialsJan 18, 2023
Richemont’s Jewelry Sales Up Double Digits in Q3
Buccellati, Cartier, and Van Cleef & Arpels posted strong sales in the luxury titan’s third quarter.
This “Laguna” cocktail ring, circa the 1960s, by Richemont-owned brand Buccellati was recently part of a vintage collection showcase at Paris haute couture week. Richemont’s jewelry brands posted double-digit growth in its recent third quarter.
Geneva—Richemont posted a strong third quarter, with sales in its jewelry division up double digits.
The luxury conglomerate, which owns high-end brands like Cartier and Van Cleef & Arpels, posted sales growth in all regions except Asia Pacific as COVID restrictions hampered the mainland China market.
For the third quarter ending Dec. 31, Richemont posted sales of €5.4 billion ($5.9 billion), a 5 percent year-over-year increase at actual exchange rates.
The quarter was up against a tough comparable, with last year’s Q3 sales up 32 percent.
Growth was led by retail and its online channels, said Richemont, with sales up 6 percent year-over-year in each category.
Online sales now account for 7 percent of group sales while direct-to-consumer sales make up 76 percent of total sales. Wholesale sales were up 1 percent, hurt by the impact of trading in the Asia Pacific region.
Third quarter jewelry sales were up 11 percent year-over-year to €3.7 billion ($4 billion), bolstered by strong sales at Buccellati, Cartier, and Van Cleef & Arpels.
As with overall sales, all regions posted growth except Asia Pacific.
Watch sales were down 3 percent to €952 million ($1 billion), as sales in Asia Pacific, which account for nearly half of sales in the category, declined double digits. The steep drop offset double-digit increases in Europe and Japan.
Richemont’s watch portfolio includes A. Lange & Söhne, IWC Schaffhausen, Officine Panerai, and Vacheron Constantin.
Related stories will be right here …
The luxury conglomerate, which owns high-end brands like Cartier and Van Cleef & Arpels, posted sales growth in all regions except Asia Pacific as COVID restrictions hampered the mainland China market.
For the third quarter ending Dec. 31, Richemont posted sales of €5.4 billion ($5.9 billion), a 5 percent year-over-year increase at actual exchange rates.
The quarter was up against a tough comparable, with last year’s Q3 sales up 32 percent.
Growth was led by retail and its online channels, said Richemont, with sales up 6 percent year-over-year in each category.
Online sales now account for 7 percent of group sales while direct-to-consumer sales make up 76 percent of total sales. Wholesale sales were up 1 percent, hurt by the impact of trading in the Asia Pacific region.
Third quarter jewelry sales were up 11 percent year-over-year to €3.7 billion ($4 billion), bolstered by strong sales at Buccellati, Cartier, and Van Cleef & Arpels.
As with overall sales, all regions posted growth except Asia Pacific.
Watch sales were down 3 percent to €952 million ($1 billion), as sales in Asia Pacific, which account for nearly half of sales in the category, declined double digits. The steep drop offset double-digit increases in Europe and Japan.
Richemont’s watch portfolio includes A. Lange & Söhne, IWC Schaffhausen, Officine Panerai, and Vacheron Constantin.
By region, Japan posted the strongest year-over-year growth, up 30 percent, followed by the Middle East and Africa, up 20 percent, then Europe, with sales up 17 percent.
Sales growth in the Americas came in last place with 16 percent growth, which the company attributed to more purchases being made abroad due to the strong U.S. dollar.
Sales to U.S. customers were solid, said Richemont, up by high-single digits.
In the Asia Pacific region, sales were down 7 percent, with mainland China posting double-digit declines.
“The massive increase of COVID cases negatively impacted customer traffic and, due to staff unavailability, led to a reduction of boutique opening hours or temporary closures of points of sale in mainland China, leading to a sales drop of 24 percent during the period under review,” said Richemont.
Looking at Richemont’s nine-month performance, overall sales were up 18 percent at actual exchange rates, building off a strong comparable of 55 percent growth in the previous year’s period.
The company did not provide guidance for the remainder of its fiscal year.
Editors' Picks
Sponsored by
More on Financials
The Latest
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
