FinancialsDec 05, 2023
Signet Jewelers’ Q3 Sales Down 12% FinancialsJan 22, 2024
Jewelry Was the Strongest Performer in Richemont’s Q3
Buccellati, Cartier, and Van Cleef & Arpels propelled the luxury titan to its highest quarterly sales total ever.
A selection of high jewelry from Richemont-owned brand Buccellati. Richemont’s strong third-quarter performance was bolstered by jewelry sales.
Geneva—Richemont had a strong third quarter, with its jewelry division fueling the surge.
For the third quarter ended Dec. 31, Richemont posted sales of €5.59 billion ($6.09 billion), a 4 percent year-over-year increase at actual exchange rates.
The results marked the company’s highest quarterly sales total ever, Richemont Chief Financial Officer Burkhart Grund said on an earnings call last week.
For the nine-month period, sales were up 5 percent at actual exchange rates to €15.81 billion ($17.22 billion).
The luxury titan said it performed well in the third quarter in spite of a “continued uncertain macroeconomic and geopolitical environment.”
Sales in all regions, except Europe, increased at actual exchange rates compared with the prior period, led by Asia-Pacific and Japan, with sales up 8 percent in both regions.
In the Americas, Richemont’s second largest market by revenue percentage as of Q3, sales were up 3 percent at actual exchange rates.
Looking at its distribution channels, retail sales were up 6 percent year-over-year.
Online sales slipped 9 percent though the jewelry brands were relatively resilient with “notable growth” in online sales for Buccellati, said Grund.
Wholesale sales and royalty income were flat, with Richemont noting that, “growth at the jewelry maisons more than offset softness in the two other business areas.”
Richemont’s jewelry brands, Buccellati, Cartier, and Van Cleef & Arpels, saw sales increase 6 percent year-over-year.
The brands “generated the strongest sales increase, underpinned by solid jewelry and watch sales,” said Richemont, with jewelry sales up by double digits in most regions, particularly Asia-Pacific and Japan.
Store openings bolstered sales, including a new Buccellati store in Hangzhou, China; a Van Cleef & Arpels in Ho Chi Minh City, Vietnam; and the new Cartier store in New York City’s SoHo neighborhood.
Cartier’s “Trinity” and “Grain de Café” performed well as did “Fauna” by Van Cleef & Arpels, and Buccellati’s “Opera Tulle” and “Ramage.”
Related stories will be right here …
For the third quarter ended Dec. 31, Richemont posted sales of €5.59 billion ($6.09 billion), a 4 percent year-over-year increase at actual exchange rates.
The results marked the company’s highest quarterly sales total ever, Richemont Chief Financial Officer Burkhart Grund said on an earnings call last week.
For the nine-month period, sales were up 5 percent at actual exchange rates to €15.81 billion ($17.22 billion).
The luxury titan said it performed well in the third quarter in spite of a “continued uncertain macroeconomic and geopolitical environment.”
Sales in all regions, except Europe, increased at actual exchange rates compared with the prior period, led by Asia-Pacific and Japan, with sales up 8 percent in both regions.
In the Americas, Richemont’s second largest market by revenue percentage as of Q3, sales were up 3 percent at actual exchange rates.
Looking at its distribution channels, retail sales were up 6 percent year-over-year.
Online sales slipped 9 percent though the jewelry brands were relatively resilient with “notable growth” in online sales for Buccellati, said Grund.
Wholesale sales and royalty income were flat, with Richemont noting that, “growth at the jewelry maisons more than offset softness in the two other business areas.”
Richemont’s jewelry brands, Buccellati, Cartier, and Van Cleef & Arpels, saw sales increase 6 percent year-over-year.
The brands “generated the strongest sales increase, underpinned by solid jewelry and watch sales,” said Richemont, with jewelry sales up by double digits in most regions, particularly Asia-Pacific and Japan.
Store openings bolstered sales, including a new Buccellati store in Hangzhou, China; a Van Cleef & Arpels in Ho Chi Minh City, Vietnam; and the new Cartier store in New York City’s SoHo neighborhood.
Cartier’s “Trinity” and “Grain de Café” performed well as did “Fauna” by Van Cleef & Arpels, 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 of these brands slipped 1 percent in the third quarter, but saw double-digit growth in the retail channel, offsetting lower wholesale and online sales.
In particular, A. Lange & Söhne, IWC, Jaeger-LeCoultre and Vacheron Constantin had strong retail performances, offsetting a double-digit decline in wholesale sales.
“Overall, the quarter was driven by double-digit growth at Vacheron Constantin and A. Lange & Söhne,” said Grund.
There were new store openings for Richemont’s watch brands as well, including Vacheron Constantin in Munich, “Casa Panerai” in Milan, and the first directly owned store for A. Lange & Söhne in Paris on Rue de la Paix.
Richemont also addressed the status of its online fashion retailer Yoox Net-A-Porter (YNAP) after scrapping plans to sell part of YNAP to luxury e-tailer Farfetch in December.
“Having parted ways with Farfetch free of any financial commitments, our maisons and YNAP continue to operate on their own platforms and technology, while we are reviewing the strategic options aimed at finding a new controlling shareholder for YNAP that can best harness its strengths and potential.
“YNAP thus remains an ‘asset held for sale’,” said Grund.
Richemont did not provide guidance for the fourth quarter or full year.
Editors' Picks
Sponsored by
More on Financials
The Latest
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 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.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
