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
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
