FinancialsNov 09, 2023
Pandora’s US Sales Bounce Back in Q3 FinancialsNov 14, 2023
Richemont’s H1 Jewelry Sales Climb 10%
Rising jewelry sales and a rebound in the Asia-Pacific region were the main growth drivers for the company as a whole.
A pair of new “Opera Galileo” pendants by Richemont-owned Buccellati. The company’s jewelry brands saw sales increase double digits in the first half of the fiscal year.
Geneva—Richemont had a strong first half of the year, with sales growth led by its jewelry division and a rebound in the Asia-Pacific region.
For the first half ending Sept. 30, Richemont posted sales of €10.22 billion ($10.94 billion), a 6 percent year-over-year increase at actual exchange rates.
Sales in all regions, except the Americas, were on the rise at actual exchange rates compared to the prior period, led by Asia-Pacific with sales up 14 percent in the region as COVID restrictions were eased.
In the Americas, Richemont’s third-largest market by revenue percentage, sales fell 4 percent (up 1 percent at constant exchange rates) due to lower wholesale sales, slowing watch sales, and a “relatively weak” U.S. dollar.
Overall, retail sales were up 9 percent year-over-year, while online sales slipped 7 percent. Wholesale sales grew 1 percent.
Richemont’s jewelry brands, Buccellati, Cartier, and Van Cleef & Arpels, saw sales increase 10 percent year-over-year, led by the Asia-Pacific region.
“The strong performance was broad-based across product categories from silverware at Buccellati to high jewelry at the group’s three jewelry maisons,” said Richemont.
Popular collections included Cartier’s “Clash” and “Grain de Café;” Van Cleef & Arpels’ “Fauna” and “Perlée;” and Buccellati’s “Opera Tulle” and “Ramage.”
Related stories will be right here …
For the first half ending Sept. 30, Richemont posted sales of €10.22 billion ($10.94 billion), a 6 percent year-over-year increase at actual exchange rates.
Sales in all regions, except the Americas, were on the rise at actual exchange rates compared to the prior period, led by Asia-Pacific with sales up 14 percent in the region as COVID restrictions were eased.
In the Americas, Richemont’s third-largest market by revenue percentage, sales fell 4 percent (up 1 percent at constant exchange rates) due to lower wholesale sales, slowing watch sales, and a “relatively weak” U.S. dollar.
Overall, retail sales were up 9 percent year-over-year, while online sales slipped 7 percent. Wholesale sales grew 1 percent.
Richemont’s jewelry brands, Buccellati, Cartier, and Van Cleef & Arpels, saw sales increase 10 percent year-over-year, led by the Asia-Pacific region.
“The strong performance was broad-based across product categories from silverware at Buccellati to high jewelry at the group’s three jewelry maisons,” said Richemont.
Popular collections included Cartier’s “Clash” and “Grain de Café;” Van Cleef & Arpels’ “Fauna” and “Perlée;” and Buccellati’s “Opera Tulle” and “Ramage.”
Richemont’s watch brands are: A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin.
Sales in the category slipped 3 percent in the first half.
Cartier’s “Santos” and “Tank” collections performed well, as did Van Cleef & Arpels’ “Alhambra” watches.
“Performance was varied across the maisons with a continued outperformance by A. Lange & Söhne and Vacheron Constantin,” said Richemont.
“However, demand for iconic collections remained resilient, in particular ‘Riviera’ for Baume & Mercier, pilot’s watches for IWC, ‘Reverso’ for Jaeger-LeCoultre, ‘Radiomir’ for Panerai, ‘Polo’ for Piaget, and ‘Excalibur’ for Roger Dubuis.”
Richemont did not provide guidance for the second half of the fiscal year.
More on Financials
The Latest
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
ColumnistsFeb 19, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
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.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
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.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
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.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
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.
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.
