EditorsJan 16, 2026
Remembering Pete Yantzer for His Contributions and His Kindness Pete’s boundless curiosity extended beyond diamond cut and he was always eager to share his knowledge with others, no matter the topic.
FinancialsNov 08, 2019
Jewelry Sales Boost Richemont’s H1 Results
Sales in its jewelry division, which includes Cartier and Van Cleef & Arpels, climbed 8 percent.
A pair of platinum Cartier earrings set with diamonds and spinel from the brand’s high jewelry collection. The Richemont-owned brand had success with its iconic collections in the first half of the year.
Geneva—Richemont missed the mark in the first-half but its jewelry sales remained strong, with Van Cleef and Cartier leading the charge alongside the luxury titan’s e-commerce sites.
First-half sales totaled €7.40 billion ($8.16 billion), a 6 percent increase at constant exchange rates, but lower than the €7.49 billion ($8.26 billion) analysts had expected.
Sales increased just 2 percent on a comparable basis, excluding online sales.
Retail sales (sales at Richemont-owned and operated boutiques) grew 4 percent at constant exchange rates, seeing growth in all regions except the United States where sales were “stable.”
Wholesale sales were down 1 percent at constant exchange rates with growth in Japan and Asia-Pacific outweighed by declines in other regions.
The jewelry houses generated higher wholesale sales compared with other areas, noted Richemont.
Online sales jumped 28 percent with “significant progress” seen in all regions, particularly in the Americas, Middle East and Africa. The double-digit boost is due in part to the recently acquired Yoox Net-A-Porter Group and Watchfinder & Co. being included for the full six-month period.
Sales in Richemont’s jewelry division were up 8 percent to €3.74 billion ($4.13 billion).
Sales at Cartier and Van Cleef were driven by a high-single digit increase in jewelry and a low-single digit increase in watches, Richemont said, with “noteworthy performances” in the Asia-Pacific region and Japan.
Cartier’s Panthère and Santos watch collections did particularly well. The launch of its new Clash collection was a success, Richemont said, with production ramping up ahead of the holiday season to address unmet demand.
For Van Cleef & Arpels, demand for the Alhambra and Perlée collections remained “remarkably strong.”
Richemont recently added to its jewelry portfolio, acquiring Italian jeweler Buccellati in a private deal in September.
Sales in its specialist watchmakers division, which includes A. Lange & Söhne and IWC Schaffhausen, were down 1 percent at constant exchange rates to €1.57 billion ($1.73 billion).
Lower wholesale sales were offset by mid-single digit growth in directly operated boutiques.
The strongest growth was seen at Panerai, A. Lange & Söhne and Vacheron Constantin and, regionally, in Japan.
Sales in Hong Kong, a key market for watches, fell double-digits while sales in Asia-Pacific were “muted.”
“Hong Kong is very exposed to watches and jewelry. The market was down around 10 percent in the first quarter, then we had a severe drop in the second quarter,” said Chief Financial Officer Burkhart Grund during an earnings call Friday morning.
Protests in Hong Kong, alongside
Editors' Picks
Sponsored by
a strong currency, have weighed on luxury sales in the area for Richemont and the industry at large.
“We’re not too worried about the jewelry business,” said Burkhardt, noting the distinction between jewelry and high jewelry.
By region, first-half sales in the Americas increased by 6 percent to €1.35 billion ($1.49 billion).
Sales in Europe were up 7 percent with U.K. sales climbing double digits, while sales in Japan rose 13 percent, buoyed by strong domestic and tourist spending.
Sales in Asia-Pacific, the company’s largest region, rose 5 percent with double-digit sales growth in China and Korea offsetting a double-digit drop in Hong Kong.
The Middle East and Africa was the sole region to record a decline in first-half sales, down 1 percent due in part to cutting ties with select wholesalers and geopolitical uncertainties.
Richemont didn’t provide guidance for the year ahead, but said on the call that the company will not exit the Hong Kong market.
“We’re not too worried about the jewelry business,” said Burkhardt, noting the distinction between jewelry and high jewelry.
“The jewelry business has continued to motor on as strongly as we’ve seen in previous years, whereas the [positive] seasonal effect of high jewelry will play out more in the second half of this fiscal year.”
By region, first-half sales in the Americas increased by 6 percent to €1.35 billion ($1.49 billion).
Sales in Europe were up 7 percent with U.K. sales climbing double digits, while sales in Japan rose 13 percent, buoyed by strong domestic and tourist spending.
Sales in Asia-Pacific, the company’s largest region, rose 5 percent with double-digit sales growth in China and Korea offsetting a double-digit drop in Hong Kong.
The Middle East and Africa was the sole region to record a decline in first-half sales, down 1 percent due in part to cutting ties with select wholesalers and geopolitical uncertainties.
Richemont didn’t provide guidance for the year ahead, but said on the call that the company will not exit the Hong Kong market.
More on Financials
The Latest
TrendsJan 16, 2026
Diane Lane's Brooch Buzzes at the 2026 Golden GlobesOur Piece of the Week is Lagos’ “Bee” brooch that was seen on the red carpet for the first time on Sunday.
CrimeJan 15, 2026
D.C. Rapper ‘Taliban Glizzy’ Sentenced to 18+ Years for Jewelry Store RobberiesTrevor Jonathan Wright led a crew in a string of armed robberies targeting South Asian-owned jewelry stores on the East Coast.
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.
Events & AwardsJan 15, 2026
Jewelers of Americas’ ‘20 Under 40’ Nominations Now OpenThe program recognizes rising professionals in the jewelry industry.
Weekly QuizJan 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJan 15, 2026
Registration for JCK Las Vegas 2026 Is Now OpenA new lifestyle section and a watch showcase have been added to this year’s event.
TrendsJan 15, 2026
Don’t Double-Dip With This Golden ChipAvocados From Mexico is celebrating those who love to double-dip in game day guacamole with a 14-karat yellow gold tortilla chip necklace.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
SourcingJan 15, 2026
Nearly 42-Carat Blue Diamond Discovered in South AfricaPetra Diamonds unearthed the 41.82-carat, Type IIb blue diamond at the Cullinan Mine.
CollectionsJan 14, 2026
Marie Lichtenberg Lassos Leather for New BraceletsThe brand is trading its colorful fabric cords for Italian leather in its “Lasso” baby locket bracelets.
TechnologyJan 14, 2026
“My Next Question” Enters Its Podcast Era National Jeweler and Jewelers of America’s popular webinar series is evolving in 2026.
MajorsJan 14, 2026
Saks Files for Bankruptcy, Names New CEOThe department store chain owes millions to creditors like David Yurman, Roberto Coin, Kering, and LVMH.
CollectionsJan 14, 2026
Boucheron Names Colman Domingo as Brand AmbassadorThe award-winning actor’s visionary approach and creativity echo the spirit of Boucheron, the brand said.
IndependentsJan 14, 2026
Kansas Jeweler Wins 2025 ‘Wag’ AwardEdge Retail Academy honored Burnell’s Fine Jewelry in Wichita, Kansas, with its annual award for business excellence.
ColumnistsJan 13, 2026
2025 Was a ‘Price Up, Units Down’ Year, Here’s What That Signals for 2026 In a market defined by more selective consumers, Sherry Smith shares why execution will be independent jewelers’ key to growth this year.
IndependentsJan 13, 2026
Orr’s Jewelers Opens New Location in Pittsburgh’s Strip DistrictThe family-owned jeweler’s new space is in a former wholesale produce market.
CrimeJan 13, 2026
Alleged Getaway Driver Charged in Florida Jewelry Store RobberyIvel Sanchez Rivera, 52, has been arrested and charged in connection with the armed robbery of Tio Jewelers in Cape Coral, Florida.
SourcingJan 13, 2026
Rio Grande To Offer Calibrated Diamond MeleeThe supplier’s online program allows customers to search and buy calibrated natural and lab-grown diamond melee, including in fancy shapes.
Events & AwardsJan 13, 2026
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
EditorsJan 12, 2026
Platinum, White Gold Rule the 2026 Golden GlobesAssociate Editor Natalie Francisco highlights her favorite jewelry moments from the Golden Globes, and they are (mostly) white hot.
GradingJan 12, 2026
Peter Yantzer, Former Executive Director of AGS Labs, Dies at 77 Yantzer is remembered for the profound influence he had on diamond cut grading as well as his contagious smile and quick wit.
MajorsJan 12, 2026
These 14 Macy’s Locations Will Close This YearThe store closures are part of the retailer’s “Bold New Chapter” turnaround plan.
MajorsJan 12, 2026
Jewelers Mutual Acquires AI-Powered Event Insurance ProgramThrough EventGuard, the company will offer event liability and cancellation insurance, including wedding coverage.
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
