FinancialsJun 08, 2023
Signet’s Q1 Same-Store Sales Fall 14%, Plans to Close 150 StoresFinancialsJul 18, 2023
Richemont’s Q1 Jewelry Sales in the Americas Fall Flat
The owner of Cartier and Van Cleef & Arpels also said online-only retailers are facing a “globally challenging environment.”
The diamond pavé version of the Cartier “Baignoire," a watch from the early 1900s the brand recreated and released at Watches & Wonders Geneva earlier this year. Cartier parent company Richemont reported a 24 percent increase in sales among its jewelry brands in the first quarter.
Geneva, Switzerland—While Richemont had a strong first quarter overall, the luxury conglomerate reported a slowdown in jewelry sales in the Americas in an environment it described as “muted.”
Richemont said Monday that its jewelry brands—Cartier, Van Cleef & Arpels, and Buccellati—posted the strongest Q1 sales growth among its three business units, with revenues climbing 24 percent year-over-year (at constant exchange rates) to €3.6 billion ($4.05 billion).
It said sales increased across all channels (wholesale, retail, and online retail) and regions except the Americas where they were “broadly flat,” though it did note that American tourists contributed to growth in sales in Europe in Q1.
The company’s watch brands, meanwhile, saw Q1 sales increase 10 percent to €1.06 billion ($1.19 billion).
Richemont said timepiece sales increased in most regions and for most of the eight brands it has in its Specialist Watchmakers unit. A. Lange & Söhne, Jaeger-LeCoultre, Piaget and Vacheron Constantin all had a particularly outstanding quarter, it noted.
The businesses Richemont classifies as “other,” which includes Watchfinder & Co., posted a 6 percent increase in sales to €662 million ($744.1 million). The unit posted sales growth across all its brands and almost all regions, including in the Americas.
Related stories will be right here …
Richemont said Monday that its jewelry brands—Cartier, Van Cleef & Arpels, and Buccellati—posted the strongest Q1 sales growth among its three business units, with revenues climbing 24 percent year-over-year (at constant exchange rates) to €3.6 billion ($4.05 billion).
It said sales increased across all channels (wholesale, retail, and online retail) and regions except the Americas where they were “broadly flat,” though it did note that American tourists contributed to growth in sales in Europe in Q1.
The company’s watch brands, meanwhile, saw Q1 sales increase 10 percent to €1.06 billion ($1.19 billion).
Richemont said timepiece sales increased in most regions and for most of the eight brands it has in its Specialist Watchmakers unit. A. Lange & Söhne, Jaeger-LeCoultre, Piaget and Vacheron Constantin all had a particularly outstanding quarter, it noted.
The businesses Richemont classifies as “other,” which includes Watchfinder & Co., posted a 6 percent increase in sales to €662 million ($744.1 million). The unit posted sales growth across all its brands and almost all regions, including in the Americas.
Sales fell 8 percent for Yoox Net-a Porter, which Richemont now classifies as “discontinued operations” after announcing plans to offload most of its stake in the online luxury business last summer.
Richemont noted in its Q1 results that online-only retailers are facing a “globally challenging environment.”
Overall, Richemont posted 19 percent year-over-year growth with sales totaling €5.32 billion ($5.98 billion) in the first quarter ended June 30.
It said a strong rebound in the Asia-Pacific region, where the lifting of COVID restrictions and soft comps fueled a 40 percent growth increase in revenue, offset its performance in the Americas, where sales slipped 2 percent on lower wholesale sales and strong year-over-year comps.
Sales in the Middle East and Africa (+15 percent), Japan (+14 percent) and Europe (+11 percent) were up as well.
Sales grew across all Richemont’s distribution channels as well, with revenue up 24 percent in retail stores, 2 percent for online retail, and 11 percent for its wholesale and royalty income segment.
Editors' Picks
Sponsored by
More on Financials
The Latest
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Weekly QuizOct 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
Events & AwardsOct 08, 2026
Pattons Fine Jewelry Sweeps Local Design ContestAra Chanakian, a jeweler at Pattons, took home top honors in every category at Jewelers of Louisiana’s annual jewelry design competition.
AuctionsOct 08, 2026
Reba McEntire’s Jewelry, Watches Head to Julien’s AuctionsThe live charity benefit sale in Nashville will also feature gowns, boots, and other memorabilia from the country music legend.
Supplier BulletinOct 08, 2026
Overnight Mountings’ Bridal Builder Helps Jewelers Turn Custom Design into a Hands-On Selling ExperienceSponsored by Overnight Mountings
Policies & IssuesOct 07, 2026
The Plumb Club Amplifies Its Voice as Geopolitical Pressures MountThe supplier organization recently joined JA and JVC to have more input on political issues affecting the jewelry industry.
CollectionsOct 07, 2026
Blue Nile, Royal Asscher Collection Highlights Natural Diamond BeautyBlue Nile, a Signet Jewelers-owned brand, is now Royal Asscher’s exclusive licensed retailer in North America.
CollectionsOct 07, 2026
4 Standout Pieces in Audemars Piguet’s First High Jewelry Collection “Royal Oak” pays homage to the brand’s most popular watch model using 18-karat gold as well as diamonds, emeralds, and sapphires.
MajorsOct 07, 2026
Empire Safe & Vault Promotes Juan Morales to CEOAs part of the transition, Joseph Nicosia has stepped into the role of COO.
SourcingOct 07, 2026
AGTA Extends Deadline for 2026 Spectrum Awards EntriesParticipants now have until Oct. 14 to complete their submissions.
CrimeOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
MajorsOct 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
