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
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities ManagerXavier Dibbrell brings more than a decade of experience to the role.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.
