Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEO
The announcement coincided with its full-year results, with growth driven by its jewelry brands.

The luxury giant also announced changes to its board of directors, naming a new CEO.
Nicolas Bos, currently CEO of Van Cleef & Arpels, will take on the re-established role June 1. Jérôme Lambert will continue as chief operating officer, reporting to Bos and remaining on the board.
“With his strong track record, Nicolas will bring a rare combination of creativity, deep industry expertise, and entrepreneurship to his new role,” said Richemont.
As for its results, for the fourth quarter ended March 31, Richemont posted sales of €4.8 billion ($5.2 billion), a 2 percent year-over-year increase at actual exchange rates (down 1 percent at constant currency rates).
For the full year, sales were up 3 percent at actual exchange (8 percent at constant currency rates) to €20.62 billion ($22.33 billion).
The luxury giant posted sales growth across all regions and business areas, at constant currency rates, for the year.
The Asia Pacific region led the charge by value for the year, up 4 percent (10 percent at constant currency rates), while Japan saw the highest boost by percentage, up 8 percent (20 percent at constant currency rates).
The U.S. posted 1 percent growth (5 percent at constant currency rates) for the year, becoming Richemont’s largest individual market, it said, coming in just ahead of Europe.
Retail was its strongest channel for the year, with sales up 5 percent (11 percent at constant currency rates), with growth seen in all business areas and regions.
In the fourth quarter, retail sales were down 2 percent (up 2 percent at constant currency rates).
Online sales were down 2 percent at constant currency rates for the year and flat in Q4.
Wholesale sales and royalty income were up 4 percent at constant currency rates for the year, boosted by jewelry, and up 2 percent in Q4.
Richemont’s jewelry brands, Buccellati, Cartier, and Van Cleef & Arpels, saw sales increase 6 percent year-over-year (12 percent at constant currency rates).
For Q4, jewelry sales were down 1 percent (up 3 percent at constant currency rates).
The full-year sales increase “was underpinned by growth across price points and regions and included a sharp double-digit progression at Buccellati,” Chairman Johann Rupert said in a statement.
“To accompany the three maisons’ dynamic development, we have stepped up investments in manufacturing, distribution and communication.”
The company recently acquired Italian jewelry brand Vhernier, and took a controlling stake of footwear brand Gianvito Rossi.
“We very much look forward to realizing Gianvito Rossi’s and Vhernier’s full potential over time, benefitting from the group’s infrastructure and backing as well as from the thriving luxury footwear and branded jewelry markets,” he said.
“We always strive to create goodwill rather than buy goodwill and, in this vein, I am pleased to report the four and-a-half-fold increase in sales at Buccellati since acquisition in 2019,” added Rupert.
Richemont’s watch brands are: A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin.
Full-year sales in the category were down 3 percent (up 2 percent at constant currency rates).
Sales of these brands fell 4 percent in the fourth quarter (1 percent at constant currency rates).
A. Lange & Söhne and Vacheron Constantin posted strong sales, said Rupert.
Retail sales were strong, he noted, with retail and online retail sales accounting for 60 percent of sales in the category.
Richemont did not provide guidance for the year ahead, but Rupert said the company’s financial discipline in an inflationary environment set the stage for future profitable growth.
He thanked the Richemont team and cautioned them to “remain alert and responsive amidst the ongoing global uncertainty.”
“I continue to have every confidence that the strong combination of our strategy, unique assets and healthy balance sheet will enable us to achieve our long-term ambitions,” he said.
The Latest

The independent jeweler first opened its doors in 1888.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.


The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.