ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
FinancialsNov 09, 2020
Cartier, Van Cleef Classics Stand Strong for Richemont
Cartier’s Clash de Cartier and Van Cleef & Arpels’ Perlée collection were among the top sellers in the first half of the year.
A 1926 Art Deco Cartier desk clock featuring a circular burgauté lacquer dial inset with cabochon moonstones, mother-of-pearl, enamel, cabochon turquoises and rose-cut diamonds. The Richemont-owned brand was resilient in a rocky first half of the fiscal year.
Geneva—Richemont’s first-half sales fell by double digits amid the COVID-19 pandemic, but its jewelry brands were resilient.
The luxury titan posted a 26 percent drop year-over-year in half-year sales at actual exchange rates to €5.48 billion ($6.49 billion) compared with €7.39 billion ($8.78 billion) in 2019.
Sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, were down 18 percent, reaching €3.06 billion ($3.63 billion) compared with €3.74 billion ($4.43 billion) a year ago.
“This business area [jewelry] was the first to rebound upon emerging from the lockdowns driven by strong presence in China, and a well-developed online offer and enduring appeal of the iconic collections,” said Chief Financial Officer Burkhart Grund during an earnings call.
The company held virtual events, like high jewelry previews and watchmaking presentations, in lieu of its planned physical events to promote the category.
Online sales of its jewelry brands increased by triple digits, said Sophie Cagnard, group corporate communications director.
The classic collections from Cartier and Van Cleef were the top sellers in the first half of the year.
Cartier added a white gold option to Clash de Cartier and a slimmer model of the diamond version of its popular Juste Un Clou bracelet, while Van Cleef & Arpels added to its Perlée and Frivole collections.
Cartier’s Santos and new Maillon de Cartier watch collections did well.
Though Richemont is tightening its belt, it is making strategic investments in store renovations, including the Van Cleef store in Paris’ Place Vendôme, the Cartier boutique in Shanghai’s Plaza 66, and a relocated Buccellati store on London’s Albemarle Street.
RELATED CONTENT: LVMH Struggles, But Sees Recovery in Q3Sales in Richemont’s specialist watchmakers division sank 38 percent to €966 million ($1.15 billion) compared with €1.57 billion ($1.86 billion) in 2019.
In addition to the effects of the COVID-19 pandemic, the decline in the segment was due in part to a “strong reliance” on multi-brand retail partners, said Richemont.
Sales were down by more than half in the first quarter, but improved to a decline of 18 percent in the second quarter, bolstered by a strong performance in China.
Richemont highlighted “notable performances” from Vacheron Constantin with the new Egérie and blue dial Overseas, IWC Schaffhausen’s new editions to the Portugieser collection, and Jaeger-LeCoultre’s relaunched Master Control collection.
IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget and Vacheron Constantin joined Cartier on the Tmall Luxury Pavilion.
Investments in its watch division include the renovated IWC Zurich Bahnhofstrasse
Editors' Picks
Sponsored by
store and the new Piaget store in Galeries Lafayette, Paris.
Breaking it down by region, quarterly sales in the Americas sank 33 percent at actual exchange rates, attributed to the temporary store and distribution center closures.
All U.S. channels, including online retail sales, recorded a low-single-digit decline in sales, said Richemont.
All other markets posted lower sales for the first half of the year except China, where sales climbed 83 percent.
Richemont recently inked a deal with Alibaba and Farfetch to further boost growth in the Chinese market.
Retail sales (sales at Richemont-owned and -operated boutiques) were down 23 percent to €2.93 billion ($3.48 billion) in the first six months compared with €3.81 billion ($4.52 billion) a year ago.
Wholesale sales fell 42 percent in the first half.
Online retail sales were more resilient than other sales channels, said Richemont, declining only 3 percent year-over-year despite the temporary closure of fulfillment centers in the first quarter.
Overall online sales, including online distributors, accounted for 22 percent of sales, up from 17 percent a year ago.
Richemont did not provide financial guidance for the year ahead.
Breaking it down by region, quarterly sales in the Americas sank 33 percent at actual exchange rates, attributed to the temporary store and distribution center closures.
All U.S. channels, including online retail sales, recorded a low-single-digit decline in sales, said Richemont.
All other markets posted lower sales for the first half of the year except China, where sales climbed 83 percent.
Richemont recently inked a deal with Alibaba and Farfetch to further boost growth in the Chinese market.
Retail sales (sales at Richemont-owned and -operated boutiques) were down 23 percent to €2.93 billion ($3.48 billion) in the first six months compared with €3.81 billion ($4.52 billion) a year ago.
Wholesale sales fell 42 percent in the first half.
Online retail sales were more resilient than other sales channels, said Richemont, declining only 3 percent year-over-year despite the temporary closure of fulfillment centers in the first quarter.
Overall online sales, including online distributors, accounted for 22 percent of sales, up from 17 percent a year ago.
Richemont did not provide financial guidance for the year ahead.
More on Financials
The Latest
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
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.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingMay 15, 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.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
SourcingMay 14, 2026
State of Colored Stones: The Spirit of Young American Gemstone CuttersThe next generation of lapidarists are entrepreneurial, engaged online, and see the craft as a means for artistic expression.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
TrendsMay 13, 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.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 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.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
