“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
Richemont’s Jewelry Sales Resilient in a Rough Q4
The luxury titan behind Cartier and Van Cleef posted an 18 percent drop in quarterly sales amid the coronavirus pandemic.

Geneva—Richemont posted a double-digit drop in fourth-quarter sales as the COVID-19 pandemic took its toll, but said better days may lie ahead as it notes strong demand at its reopened boutiques in China.
Sales in the company’s fiscal fourth quarter, which ended March 31, dipped 18 percent year-over-year at actual exchange rates with the Asia-Pacific region hit especially hard.
Protests in Hong Kong coupled with the COVID-19 pandemic contributed to a 36 percent drop in sales, including a 67 percent decline in Hong Kong.
In the Americas, quarterly sales were up 9 percent year-over-year while in Europe, sales were down 9 percent.
Richemont noted its jewelry brands and online distributors were growth-drivers and “showed resilience” despite the rough quarter.
“The luxury goods industry is in a privileged position,” said Chairman Johann Rupert in a statement, adding that hard luxury products are the embodiment of “centuries of heritage and craft skills.”
“Cartier was established in 1847 and has survived two world wars; Vacheron Constantin began manufacturing watches in its current premises in Geneva in 1755,” he said. “Our maisons will survive these difficult times, supported by the strength of Richemont’s balance sheet.”
In the full fiscal year ended March 31, sales were flat at constant exchange rates, totaling €14.24 billion ($15.37 billion), slightly higher than the €14.1 billion ($15.2 billion) analysts had expected.
Excluding online sales, annual sales were down 3 percent year-over-year at constant exchange rates.
Retail sales (sales at Richemont-owned and -operated boutiques) dipped 2 percent at constant exchange rates, which the company attributed to the protests in Hong Kong and France earlier in the fiscal year as well as the impact of the COVID-19 pandemic starting in January.
Wholesale sales fell 5 percent with growth in Japan offset by declines in other regions as a result of store closures and social unrest.
Its specialist watchmakers division, which also includes A. Lange & Söhne and IWC Schaffhausen, also weighed on wholesale results as it continued to focus on optimizing its wholesale network and balancing sell-in with sell-out, said Richemont.
Online sales posted double-digit growth in nearly every region, up 14 percent at constant exchange rates and accounting for 19 percent of sales for the year, up from 16 percent a year ago.
Sales in Richemont’s jewelry division were up 2 percent at actual exchange rates in the fiscal year, reaching €7.22 billion ($7.80 billion) with strong online sales.
Richemont attributed the increase in part to the opening of
Jewelry collections that performed particularly well included Cartier’s new “Clash de Cartier” collection and Van Cleef & Arpels’ “Juste un Clou” and “Perlée” lines.
As for the jewelry brand’s watch offerings, Cartier’s revamped Baignore and Santos de Cartier did well alongside Van Cleef & Arpels’ Alhambra collections.
Buccellati, the Italian jewelry brand Richemont acquired in September 2019, also performed well, especially the “Macri” collection.
The jewelry segment posted mid- to high single-digit sales growth in the Americas, Europe, and Japan, which offset a decline in the Asia-Pacific region.
The company recently renovated its Van Cleef & Arpels store on Los Angeles’ Rodeo Drive and relocated the Cartier boutique in China World Beijing.
Its specialist watchmakers division faced a “challenging environment” with sales slipping 4 percent to €2.9 billion ($3.13 billion).
The division performed well in the Americas and Japan, but retail and wholesale sales were down overall.
The company highlighted the performance of Panerai’s new “Submersible Carbotech” collection and the anniversary editions of A. Lange & Söhne’s “Lange 1.”
Richemont’s operating results sank 20 percent as a result of lower sales, higher gold prices, “strict” cost control, and a stronger Swiss franc, which was partly mitigated by a stronger U.S. dollar.
By region, full-year sales in the Americas grew 6 percent at constant exchange rates to €2.81 billion ($3.03 billion).
European sales were up 4 percent, while sales in Japan dipped 1 percent. Sales in Asia-Pacific, the company’s largest region, fell 6 percent.
The Middle East and Africa posted a 3 percent dip in sales.
As for fiscal guidance, Rupert said there is “very limited visibility as to what the year ahead holds.”
But he said there are signs of improvement, noting the company’s 462 boutiques in China have seen “strong demand” since reopening in March.
The Latest

Designer Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.

The company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.

Six new retail businesses were selected for the 2025 program, which began in January.

Sponsored by the Gemological Institute of America


Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

The organization also announced its board of directors.

Charms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
The two organizations will hold the educational event together this fall in Mississippi.

The entrepreneur and “Shark Tank” star will share his top tips for success.

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.