Richemont’s Q1 Jewelry Sales Up 2%
In contrast, the luxury giant’s watch sales fell 14 percent.

The company was up against tough comparatives, as last year’s Q1 sales were up 19 percent.
The luxury titan said this quarter’s performance demonstrates its “resilience in a continuing uncertain macroeconomic and geopolitical environment.”
For the first quarter ending June 30, Richemont posted sales of €5.27 billion ($5.73 billion), down 1 percent year-over-year at actual exchange rates (up 1 percent at constant exchange rates).
Sales in all regions, except Asia Pacific, were on the rise compared to the prior period, led by Japan with sales up 42 percent in the region.
Its quarterly performance was dragged down in part by declining sales in the Asia Pacific region, down 19 percent at actual exchange rates (down 18 percent at constant exchange rates), with sales in China, Hong Kong, and Macau combined falling 27 percent in the quarter.
The decline in the region was due to low levels of consumer confidence and strong comparatives, said Richemont.
In the Americas, sales were up 11 percent (up 10 percent at constant exchange rates), which Richemont said reflected sustained domestic demand across all distribution channels.
Overall, retail sales were flat year-over-year, while online sales were up 6 percent. Wholesale sales fell 6 percent.
Richemont’s jewelry brands, Buccellati, Cartier, and Van Cleef & Arpels, saw sales increase 2 percent year-over-year (up 4 percent at constant exchange rates).
The company named new CEOs for two of its jewelry brands earlier this month.
On Sept. 1, Louis Ferla will take on the role of Cartier CEO, while Catherine Rénier will step in as CEO of Van Cleef & Arpels.
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 fell 14 percent in the first quarter (down 13 percent at constant exchange rates).
A. Lange & Söhne and Vacheron Constantin were particularly resilient, said Richemont.
Richemont did not provide guidance for the second quarter of the fiscal year.
The Latest

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

Her new role is director of strategic initiatives.


The entrepreneur and “Shark Tank” star will share his top tips for success.

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

The large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Those born in June have a myriad of options for their birthstone jewelry.

The diamond industry veteran has been named its senior sales executive.

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Sponsored by Stuller

It was featured in the miner’s latest sale, which brought in $24.8 million.

GemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.

The 3,300-square foot location is the jeweler's largest store in North America.

Aging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.

The WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.

A longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.

The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.