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.
More on Financials
The Latest
Events & AwardsJun 06, 2025
Here Are the 2025 Retailer Hall of Fame InducteesThis year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design AtelierDiscover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las VegasThe “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.
Weekly QuizJun 05, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
MajorsJun 05, 2025
Platinum Guild International Updates Leadership TeamTwo existing executives have been given new roles.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship RecipientMeredith Tiderington, an electrical engineering student, was selected for the award.
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.Her new role is director of strategic initiatives.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
SurveysJun 03, 2025
Consumer Confidence Improves in May The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade ReportsThe company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat RubyThe large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
SourcingJun 02, 2025
David Allouche Joins Grandview Klein DiamondsThe diamond industry veteran has been named its senior sales executive.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
