FinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall ShortFinancialsJan 17, 2025
Richemont’s Jewelry Sales Rise 14% in Holiday Quarter
The company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion.
A pair of “Opera Galileo” pendants by Buccellati. Buccellati together with Cartier, Van Cleef & Arpels, and Vhernier comprise Richemont’s jewelry brand portfolio. The brands saw sales increase 14 percent year-over-year in the third quarter.
Geneva, Switzerland—Jewelry sales increased by double digits in the third quarter for Richemont, propelling the luxury conglomerate to a record Q3.
The company reported Thursday that in the period ending Dec. 31, sales by its four jewelry brands, Cartier, Van Cleef & Arpels, Buccellati, and the recently acquired Vhernier, totaled €4.5 billion ($4.64 billion), up 14 percent from €3.95 billion ($4.07 billion) from the third quarter 2023.
The increase came despite the fact that Richemont’s jewelry division was up against strong comps from Q3 2023, when sales increased 12 percent year-over-year.
Richemont said both its classic jewelry collections—think Cartier “Love” or Van Cleef & Arpels’ “Alhambra” designs—and its new introductions contributed to the increase, particularly during the holiday season.
Watch sales, meanwhile, fell 8 percent in the third quarter, totaling €867 million ($893 million) compared with €939 million ($967 million) in the prior-year period. It is an improvement from the first half of the year, when Richemont’s watch sales were down 16 percent year-over-year.
Richemont, which owns Jaeger-LeCoultre, Vacheron Constantin, and Piaget, among other brands, noted that continued sluggish sales in the Asia Pacific region were a drag on the division.
Watch sales increased across all other regions, including a double-digit increase in the Americas.
Related stories will be right here …
The company reported Thursday that in the period ending Dec. 31, sales by its four jewelry brands, Cartier, Van Cleef & Arpels, Buccellati, and the recently acquired Vhernier, totaled €4.5 billion ($4.64 billion), up 14 percent from €3.95 billion ($4.07 billion) from the third quarter 2023.
The increase came despite the fact that Richemont’s jewelry division was up against strong comps from Q3 2023, when sales increased 12 percent year-over-year.
Richemont said both its classic jewelry collections—think Cartier “Love” or Van Cleef & Arpels’ “Alhambra” designs—and its new introductions contributed to the increase, particularly during the holiday season.
Watch sales, meanwhile, fell 8 percent in the third quarter, totaling €867 million ($893 million) compared with €939 million ($967 million) in the prior-year period. It is an improvement from the first half of the year, when Richemont’s watch sales were down 16 percent year-over-year.
Richemont, which owns Jaeger-LeCoultre, Vacheron Constantin, and Piaget, among other brands, noted that continued sluggish sales in the Asia Pacific region were a drag on the division.
Watch sales increased across all other regions, including a double-digit increase in the Americas.
In total, Richemont third-quarter sales reached €6.15 billion ($6.35 billion), a 10 percent increase over €5.59 billion ($5.76 billion) in Q3 2023. The company said it was its highest ever quarterly sales total.
The Americas was Richemont’s strongest region, driven by local demand. Sales totaled €1.65 billion ($1.7 billion), up 22 percent at actual and constant exchange rates from €1.36 billion ($1.4 billion) in the prior-year period.
Sales also increased in the Middle East and Africa (up 20 percent), Europe (up 19 percent)—with North American tourists helping to fuel demand—and Japan (up 19 percent).
Sales declined 7 percent in the Asia Pacific region.
Richemont also saw positive results across all of its distribution channels, with sales at company-owned and -operated retail stores up 11 percent, online sales increasing 17 percent, and wholesale and royalty income ticking up 4 percent.
The company’s strong third quarter was better than expected and pushed its shares higher on Thursday.
Year-to-date, Richemont’s sales are pacing slightly ahead of last year’s, totaling €16.23 billion ($16.72 billion), compared with €15.81 billion ($16.29 billion) a year ago.
Editors' Picks
Sponsored by
More on Financials
The Latest
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.
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.
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.
Weekly QuizFeb 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
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.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
IndependentsFeb 05, 2026
Borsheims to Undergo Massive Renovation in the Spring The Omaha jewelry store’s multi-million-dollar renovation is scheduled to begin in mid-May and take about six months.
CollectionsFeb 05, 2026
Marco Bicego’s Amethyst Collection Travels to a Purple ParadiseThe “Paradise Amethyst” collection focuses on amethyst, pink tourmaline, garnet, and 18-karat yellow gold beads.
FinancialsFeb 05, 2026
Watches of Switzerland Reports Strong Holiday Results in Q3The retailer credited its Roberto Coin campaign, in part, for boosting its North America sales.
ColumnistsFeb 04, 2026
January Jewelry Sales: More Dollars Spent, Fewer Units Sold Sherry Smith unpacks independent retailers’ January performance and gives tips for navigating the slow-growth year ahead.
MajorsFeb 04, 2026
What Designers Should Know About Saks Global’s BankruptcyFrom how to get an invoice paid to getting merchandise returned, JVC’s Sara Yood answers some complex questions.
TrendsFeb 04, 2026
Amanda’s Style File: February Birthstone BlissAmethyst, the birthstone for February, is a gemstone to watch this year with its rich purple hue and affordable price point.
MajorsFeb 04, 2026
Marco Bicego Names New Global Marketing DirectorThe Italian jewelry company appointed Matteo Cuelli to the newly created role.
MajorsFeb 04, 2026
Frederick Goldman Updates Leadership TeamThe manufacturer said the changes are designed to improve speed, reliability, innovation, and service.
