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.
Editors' Picks
Sponsored by
More on Financials
The Latest
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
Weekly QuizJul 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
