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.
More on Financials
The Latest
TrendsJun 20, 2025
Dua Lipa Stays On-Trend With Chunky Engagement RingThe singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.
TrendsJun 20, 2025
Piece of the Week: Yvonne Léon’s ‘Python Gold’ BraceletThe bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.
CrimeJun 18, 2025
7 Men Indicted in $100M Brinks Jewelry HeistThe heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
AuctionsJun 18, 2025
Historic ‘Marie-Thérèse Pink’ Diamond Fetches $14M at Christie’sThe 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week.
Weekly QuizJun 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsJun 18, 2025
Q&A: Caryl Capeci Dives Into Cruise Jewelry ShoppingThe Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.
AuctionsJun 18, 2025
16th-Century ‘Gresham Grasshopper’ Ring Sells for $56KThe historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
CollectionsJun 18, 2025
Kirk Kara Celebrates 135 Years With New JewelsTo mark the milestone, the brand is introducing new non-bridal fine jewelry designs for the first time in two decades.
SourcingJun 18, 2025
Gemfields Sells 36-Carat Rough RubyThe gemstone is the third most valuable ruby to come out of the Montepuez mine, Gemfields said.
TechnologyJun 18, 2025
Alex Brown Named President of Smithee GroupFounder and longtime CEO Ben Smithee will stay with the agency, transitioning into the role of founding partner and strategic advisor.
EditorsJun 17, 2025
The Best New Jewelry from Couture 2025, Part 1Associate Editor Natalie Francisco shares 20 of her favorite pieces from the jewelry collections that debuted at Couture.
ColumnistsJun 17, 2025
Peter Smith: Is Your Comp Plan a Hiring Hindrance?If you want to attract good salespeople and generate a stream of “sleeping money” for your jewelry store, then you are going to have to pay.
AuctionsJun 17, 2025
Colored Gemstones, Signed Jewels Shine in Sotheby’s High Jewelry SaleThe top lot was a colorless Graff diamond, followed by a Burmese ruby necklace by Marcus & Co.
MajorsJun 17, 2025
Amanda Gizzi Gets a Promotion at JAGizzi, who has been in the industry since 2001, is now Jewelers of America’s senior vice president of corporate affairs.
MajorsJun 17, 2025
Kering Names Automotive Exec as Its New CEOLuca de Meo, a 30-year veteran of the auto industry, will succeed longtime CEO François-Henri Pinault.
EditorsJun 16, 2025
Q&A: Bogolo Joy Kenewendo on Mining, Tariffs, and the Energy of Las VegasFollowing visits to Vegas and New York, Botswana’s minerals minister sat down with Michelle Graff to discuss the state of the diamond market.
IndependentsJun 16, 2025
Greenwich St. Jewelers Launches Commitment Campaign Celebrating LGBTQ+ CouplesThe “Your Love Has the Perfect Ring” campaign showcases the strength of love and need for inclusivity and representation, the jeweler said.
MajorsJun 16, 2025
Ivette Nersesyan-Stephanopoulos Joins Tiffany & Co.The former De Beers executive is the jewelry house’s new director of high jewelry for the Americas.
MajorsJun 16, 2025
Catbird Names WNBA Star Nyara Sabally as Its New Brand AmbassadorThe New York Liberty forward is the first athlete to represent the Brooklyn-based jewelry brand.
CollectionsJun 13, 2025
Piece of the Week: Robinson Pelham’s Pear EarringsTake a bite out of the 14-karat yellow gold “Fruits of Love Pear” earrings featuring peridots, diamond stems, and tsavorite leaves.
Events & AwardsJun 13, 2025
AGA to Host ‘Diamonds From Mine to Market’ Education ConferenceThe one-day virtual event will feature speakers from De Beers, GIA, and Gemworld International.
EditorsJun 12, 2025
15 Questions With Jewelry Photographer Ella SophieThe California-based creative talks jewelry photography in the modern era and tackles FAQs about working with a pro for the first time.
AuctionsJun 12, 2025
Vintage Patek Philippe From the ‘50s Sells for $4M at Sotheby’s Al Capone’s pocket watch also found a buyer, though it went for less than half of what it did at auction four years ago.
Events & AwardsJun 12, 2025
Gabriel Love Foundation Introduces Scholarship Honoring Elias GabrielThe foundation has also expanded its “Stronger Together” initiative with Jewelers for Children.
AuctionsJun 12, 2025
Former De Beers Exec Celine Assimon Joins BonhamsAssimon is the auction house’s new chief commercial officer.
EditorsJun 11, 2025
Q&A: Al Cook on Differentiating Natural Diamonds, Traceability, and TariffsThe De Beers Group CEO discusses the company’s new “beacon” program, the likelihood diamonds will be exempt from tariffs, and “Origin.”
