Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
FinancialsJan 20, 2021
Jewelry Sales Bolster Richemont’s Q3
Sales of brands including Cartier and Van Cleef & Arpels were up 9 percent in the quarter.
The iconic Cartier Love bracelet. The brand is part of Richemont’s jewelry division, which saw strong sales in the third quarter.
Geneva—Richemont’s third-quarter revenue increased, bolstered by e-commerce, strong sales in the Asia-Pacific region and in its jewelry division.
The luxury titan posted a 1 percent year-over-year increase in sales at actual exchange rates to €4.19 billion ($5.08 billion) compared with €4.16 billion ($5.02 billion) in 2019.
The results exceeded analyst expectations of €4.01 billion ($4.85 billion).
Sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, rose 9 percent in the company’s fiscal third quarter, reaching €2.37 billion ($2.86 billion) compared with €2.16 billion ($2.61 billion) a year ago.
Jewelry sales saw growth in all regions except Europe, and across all channels, said Richemont.
Cartier recently showcased its best-selling pieces, including Santos, Tank, Trinity, Love, Juste Un Clou, Panthère and Ballon Bleu, in the same advertising campaign.
Meanwhile, sales in Richemont’s specialist watchmakers division sank 7 percent to €758 million ($917 million) compared with €818 million ($989 million) in 2019.
Watch sales in the quarter were down in all regions except Asia-Pacific, where sales climbed double digits due in part to the Watches & Wonders event in Sanya, China.
Breaking it down by region, quarterly sales in the Americas were down 4 percent at actual exchange rates to €841 million ($1.01 billion), though Richemont noted strong domestic (non-tourism-related) sales.
The Asia-Pacific region saw the strongest growth, up 21 percent overall. Sales in China grew 80 percent, offsetting declines in other areas.
The Middle East and Africa recorded the second best performance for Richemont, with sales up 20 percent as tourist spending resumed in Dubai and domestic spending, particularly in Saudi Arabia, was strong.
In Europe, public health measures and a halt in tourism sent Richemont brands’ sales plummeting 22 percent.
In Japan, sales were down 2 percent, attributed to strong local demand before the reinstatement of public health measures.
Retail sales (sales at Richemont-owned and -operated boutiques) were up 3 percent to €2.28 billion ($2.76 billion) in the third quarter compared with €2.21 billion ($2.67 billion) a year ago.
Wholesale sales fell 12 percent in the quarter to €1.05 billion ($1.27 billion) compared with €1.19 billion ($1.44 billion) a year ago.
Online retail sales were up 13 percent to €841 million ($1.01 billion) compared with €747 million ($904 billion) a year ago.
Richemont did not provide financial guidance for the year ahead.
More on Financials
The Latest
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the HolidaysCo-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into JewelryAlong with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
Weekly QuizDec 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat EscapeThe man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
SourcingDec 19, 2024
The Second-Largest Diamond Ever Found Now Has a Name The 2,488-carat diamond recovered from a mine in Botswana has been dubbed “Motswedi” while its 1,094-carat sibling is “Seriti.”
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
SourcingDec 19, 2024
Gemfields Reports Record Ruby Auction Results Despite Challenges at SourceThe average price per carat hit a record high for the miner, which said it remains unaffected by the conflict in Mozambique.
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’sThe nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co. More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video CampaignThe videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to RetireFeldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry ExcellenceThe luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’sThe nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
CrimeDec 17, 2024
‘Black Bin Crew’ Robbers Get 14-16 Years in Prison The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
TrendsDec 16, 2024
Marion Fasel’s New Book Delves Into the History of Engagement Rings“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
WatchesDec 16, 2024
Take a Look Inside the New Rolex Boutique on Rodeo DriveGearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
GradingDec 16, 2024
GCAL By Sarine Expands 8X to 2 More Fancy Shapes The diamond cut grade is now available for marquise- and pear-shaped diamonds.
SourcingDec 16, 2024
Diamonds Do Good Announces 2025 Award RecipientsDDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement RingEstimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
AuctionsDec 12, 2024
Tom Brady’s Watches Top $4M at Sotheby’s AuctionThe highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
SourcingDec 12, 2024
Grizzly Emerald Auction Garners $22.4MRecent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
MajorsDec 12, 2024
Mark Henry Appoints New Director of SalesCarrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
