CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
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
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
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.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
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.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
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.
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.
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.
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.
