EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJan 15, 2019
Richemont’s Jewelry Sales Up 9% in Q3
This comes despite the political unrest in France denting sales in Europe.
Geneva—Despite social unrest and protests in France denting sales in Europe, luxury conglomerate Richemont’s jewelry and overall sales remained strong in the third quarter 2018.
Sales at the company’s jewelry maisons were up 9 percent at actual exchange rates (8 percent at constant exchange rates) to nearly €2 billion (about $2.3 billion) in the quarter ended Dec. 31.
Meanwhile, the conglomerate’s specialist watchmakers division was up 1 percent at actual exchange rates and flat at constant exchange rates at €790 million, or $905.8 million.
In the Americas, sales for the company were up 43 percent at actual exchange rates (41 percent at constant exchange rates).
In Europe, sales during the third quarter rose 34 percent at actual exchange rates. Asia Pacific sales also were up, increasing 17 percent, as was Japan, also at 17 percent.
Sales in the Middle East and Africa were flat.
Richemont’s two acquisitions, Yoox Net-a-Porter (YNAP) and Watchfinder, were consolidated into the group’s accounts on May 1, 2018, and June 1, 2018, respectively. The company said YNAP posted double-digit growth across all regions during the quarter, while Watchfinder’s sales “expanded more moderately.”
When Richemont excluded the two new divisions to make a more meaningful comparison with the year-earlier period, it said it saw sales growth in all regions except the Middle East and Europe.
When calculating the figures this way, sales in the Americas were up 9 percent, buoyed by a good performance from jewelry (Richemont owns Cartier and Van Cleef & Arpels).
Meanwhile, a 10 percent increase in sales in the Asia Pacific region reflected double-digit sales growth in mainland China as well as “good” increases in other main markets.
Sales growth in Hong Kong slowed, however, due primarily to the strength of the Hong Kong dollar against the Chinese renminbi, leading to lower tourist spending.
Richemont said sales in Europe were affected in the latter part of the quarter by the social unrest and protests in France, which negatively impacted tourism and led to store closures for six consecutive Saturdays, though it did not reveal the specific impact on sales in the region.
But it doesn’t appear the unrest had much negative impact on group sales.
Overall, with YNAP and Watchfinder included, group sales rose by 25 percent at actual exchange rates and 24 percent by constant exchange rates.
Meanwhile, sales of jewelry and watches at Richemont brands’ own stores
performed better than the wholesale side of the business in the third quarter.
Richemont’s brands’ retail channels saw a 7 percent increase in sales, with growth slowing in December due in part to the temporary store closures in France, while the wholesale channel posted a 2 percent increase, which Richemont said reflected “ongoing cautious watch inventory management,” among other factors.
More on Majors
The Latest
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
