FinancialsJun 03, 2025
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Richemont’s Jewelry Sales Up 7% in Q1
It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.
An “Opera” bracelet from Richemont-owned Buccellati. Richemont’s jewelry brands posted strong sales in the first quarter.
Geneva—In spite of a “volatile” geopolitical and macroeconomic environment, Richemont posted a solid first quarter, bolstered by continued strength in its jewelry division.
For the first quarter ending June 30, Richemont reported sales of €5.41 billion ($6.28 billion), up 3 percent year-over-year at actual exchange rates (6 percent at constant exchange rates).
The Americas, Europe, and the Middle East and Africa saw double-digit growth. Sales were “stable” in the Asia-Pacific region and down in Japan against tough comps.
In the Americas, sales grew 10 percent (17 percent at constant exchange rates), which Richemont said was driven by local demand across all business areas and markets.
The company saw consistent growth across all distribution channels, led by the jewelry division.
Both in-store and online sales grew 3 percent year-over-year (6 percent at constant exchange rates).
Wholesale sales and royalty income were up 2 percent year-over-year (6 percent at constant exchange rates).
Richemont’s jewelry brands, Buccellati, Cartier, Van Cleef & Arpels, and Vhernier, saw sales increase 7 percent year-over-year (11 percent at constant exchange rates).
It marked the third consecutive quarter of double-digit, constant-exchange-rate growth for the division, Richemont said, with sales increasing in every region, excluding Japan.
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For the first quarter ending June 30, Richemont reported sales of €5.41 billion ($6.28 billion), up 3 percent year-over-year at actual exchange rates (6 percent at constant exchange rates).
The Americas, Europe, and the Middle East and Africa saw double-digit growth. Sales were “stable” in the Asia-Pacific region and down in Japan against tough comps.
In the Americas, sales grew 10 percent (17 percent at constant exchange rates), which Richemont said was driven by local demand across all business areas and markets.
The company saw consistent growth across all distribution channels, led by the jewelry division.
Both in-store and online sales grew 3 percent year-over-year (6 percent at constant exchange rates).
Wholesale sales and royalty income were up 2 percent year-over-year (6 percent at constant exchange rates).
Richemont’s jewelry brands, Buccellati, Cartier, Van Cleef & Arpels, and Vhernier, saw sales increase 7 percent year-over-year (11 percent at constant exchange rates).
It marked the third consecutive quarter of double-digit, constant-exchange-rate growth for the division, Richemont said, with sales increasing in every region, excluding Japan.
Richemont’s watch brands are: A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin.
Sales in the division fell 10 percent year-over-year in the first quarter (7 percent at constant exchange rates).
The division saw double-digit growth in the Americas, but it was not enough to offset declining sales in China, Hong Kong, and Macau, as well as Japan.
Pre-owned watch platform Watchfinder, which is part of Richemont’s “Others” division, saw strong growth in the quarter, said Richemont.
Richemont did not provide guidance for the second quarter of the fiscal year.
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