FinancialsApr 21, 2021
Boucheron, Qeelin Excel in Kering’s Q1FinancialsMay 21, 2021
Richemont Posts Strong Q4 as Jewelry Sales Rebound
The luxury titan’s jewelry sales exceeded pre-COVID levels.
Richemont headquarters in Geneva, designed by architect Jean Nouvel. The luxury titan’s quarterly sales were up 30 percent year-over-year, with jewelry performing especially well. (Image courtesy of Richemont)
Geneva—Richemont ended the fiscal year on a high note, with quarterly sales up double digits and jewelry sales exceeding pre-COVID levels.
Full-year sales were down 8 percent to €13.14 billion ($16.06 billion), compared with €14.24 billion ($17.39 billion) in 2020.
However, fourth-quarter sales were up 30 percent year-over-year at actual exchange rates.
Full-year sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, rose 3 percent to €7.46 billion ($9.11 billion), compared with €7.22 billion ($8.82 billion) a year ago.
The category saw a 54 percent sales rebound in the fourth quarter.
Jewelry sales saw strong double-digital growth in the second half of the year, surpassing pre-COVID levels by the end of the year, Richemont said, crediting “the enduring appeal of Cartier, Van Cleef & Arpels, and Buccellati.”
Retail sales in the segment were strong, with online sales up triple digits for the full year.
The iconic collections continued to perform well, including Clash Supple and Santos for Cartier, Frivole and Perlée for Van Cleef & Arpels, and Opera Tulle for Buccellati.
Meanwhile, full-year sales in Richemont’s specialist watchmakers division sank 21 percent to €2.25 billion ($2.74 billion), compared with €2.86 billion ($3.49 billion) in 2020.
But quarterly sales were up 10 percent year-over-year.
Related stories will be right here …
Full-year sales were down 8 percent to €13.14 billion ($16.06 billion), compared with €14.24 billion ($17.39 billion) in 2020.
However, fourth-quarter sales were up 30 percent year-over-year at actual exchange rates.
Full-year sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, rose 3 percent to €7.46 billion ($9.11 billion), compared with €7.22 billion ($8.82 billion) a year ago.
The category saw a 54 percent sales rebound in the fourth quarter.
Jewelry sales saw strong double-digital growth in the second half of the year, surpassing pre-COVID levels by the end of the year, Richemont said, crediting “the enduring appeal of Cartier, Van Cleef & Arpels, and Buccellati.”
Retail sales in the segment were strong, with online sales up triple digits for the full year.
The iconic collections continued to perform well, including Clash Supple and Santos for Cartier, Frivole and Perlée for Van Cleef & Arpels, and Opera Tulle for Buccellati.
Meanwhile, full-year sales in Richemont’s specialist watchmakers division sank 21 percent to €2.25 billion ($2.74 billion), compared with €2.86 billion ($3.49 billion) in 2020.
But quarterly sales were up 10 percent year-over-year.
“Our Specialist Watchmakers division is in a very healthy state,” said Richemont. “The desirability of our maisons has been fueled by the reinforcement of iconic collections with well received new references and our strongest-ever resonance during Watches & Wonders.”
The division saw double-digit sales in Asia Pacific following the opening of five flagship stores on Alibaba’s luxury e-commerce platform Tmall Luxury Pavilion, including IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Vacheron Constantin.
Participation in Watches & Wonders fairs in Shanghai and Sanya, China also boosted sales while sales to local clientele offset the drop in tourism dollars.
Breaking it down by region, full-year sales in the Americas were down 15 percent to €2.39 billion ($2.92 billion).
Quarterly sales were up 21 percent, bolstered by strong online retail sales, though e-commerce growth could not compensate for declines in other areas.
The Asia-Pacific region saw the strongest growth, up 19 percent for the year while quarterly sales surged 106 percent. Sales growth in mainland China offset declines in locations seeing a halt in tourism, like Hong Kong and South Korea.
Full-year sales in the Middle East and Africa slipped 1 percent, though international tourism began to return in the second half of the year.
In Europe, public health measures and a halt in tourism sent full-year sales down 31 percent. Quarterly sales were down 7 percent.
In Japan, full-year sales were down 22 percent due to the lasting impact of COVID-19 while fourth-quarter sales were up 15 percent as online sales rose.
Retail sales (sales at Richemont-owned and -operated boutiques) slipped 1 percent to €7.25 billion ($8.85 billion) for the full year, compared with €7.34 billion ($8.96 billion) a year ago.
Quarterly retail sales were up 62 percent year-over-year. Sales in Asia Pacific and the Middle East and Africa were especially strong.
Wholesale sales fell 27 percent for the full year to €3.10 billion ($3.79 billion), compared with €4.25 billion ($5.19 billion) a year ago. Quarterly sales were up 1 percent.
Online retail sales were up 6 percent to €2.79 billion ($3.41 billion), compared with €2.65 billion ($3.23 billion) a year ago. Sales were up 22 percent in the fourth quarter.
Richemont did not provide financial guidance for the year ahead.
The division saw double-digit sales in Asia Pacific following the opening of five flagship stores on Alibaba’s luxury e-commerce platform Tmall Luxury Pavilion, including IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Vacheron Constantin.
Participation in Watches & Wonders fairs in Shanghai and Sanya, China also boosted sales while sales to local clientele offset the drop in tourism dollars.
Breaking it down by region, full-year sales in the Americas were down 15 percent to €2.39 billion ($2.92 billion).
Quarterly sales were up 21 percent, bolstered by strong online retail sales, though e-commerce growth could not compensate for declines in other areas.
The Asia-Pacific region saw the strongest growth, up 19 percent for the year while quarterly sales surged 106 percent. Sales growth in mainland China offset declines in locations seeing a halt in tourism, like Hong Kong and South Korea.
Full-year sales in the Middle East and Africa slipped 1 percent, though international tourism began to return in the second half of the year.
In Europe, public health measures and a halt in tourism sent full-year sales down 31 percent. Quarterly sales were down 7 percent.
In Japan, full-year sales were down 22 percent due to the lasting impact of COVID-19 while fourth-quarter sales were up 15 percent as online sales rose.
Retail sales (sales at Richemont-owned and -operated boutiques) slipped 1 percent to €7.25 billion ($8.85 billion) for the full year, compared with €7.34 billion ($8.96 billion) a year ago.
Quarterly retail sales were up 62 percent year-over-year. Sales in Asia Pacific and the Middle East and Africa were especially strong.
Wholesale sales fell 27 percent for the full year to €3.10 billion ($3.79 billion), compared with €4.25 billion ($5.19 billion) a year ago. Quarterly sales were up 1 percent.
Online retail sales were up 6 percent to €2.79 billion ($3.41 billion), compared with €2.65 billion ($3.23 billion) a year ago. Sales were up 22 percent in the fourth quarter.
Richemont did not provide financial guidance for the year ahead.
Editors' Picks
Sponsored by
More on Financials
The Latest
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
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.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
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.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
TrendsJan 23, 2026
Martin Katz’s Earrings Call to Mind Wintry Weather Micro-set with hundreds of diamonds, these snowflake earrings recreate “winter’s most elegant silhouette,” and are our Piece of the Week.
MajorsJan 23, 2026
Rembrandt Charms Names New Director of Creative, Brand StrategyElla Blum was appointed to the newly created role.
Supplier BulletinJan 22, 2026
The Rise of Centralized Sourcing in the Colored Gemstone MarketSponsored by RapNet
MajorsJan 22, 2026
Lugano Diamonds Finds a BuyerInvestment firm Enhanced Retail Funding, a division of Gordon Brothers, was the successful bidder.
SourcingJan 22, 2026
De Beers To Release ‘A Diamond Is Forever’ BookIt explores the history of the iconic tagline and the company’s strategy to redefine the role of diamonds in society.
MajorsJan 22, 2026
Swarovski Appoints New North America PresidentRetail veteran Sindhu Culas has stepped into the role.
