FinancialsApr 21, 2021
Boucheron, Qeelin Excel in Kering’s Q1FinancialsJul 16, 2021
Jewelry, Watch Sales Bolster Richemont’s Q1
Plus, the changes to Richemont’s senior executive committee and board of directors.
Richemont headquarters in Geneva, designed by architect Jean Nouvel. The luxury titan’s quarterly sales were up 121 percent year-over-year, with jewelry and watch sales putting on a strong performance. (Image courtesy of Richemont)
Geneva—Richemont’s first-quarter sales surged, exceeding pre-pandemic levels, driven by strong jewelry sales and the Americas.
The luxury titan posted a 121 percent increase year-over-year in quarterly sales at actual exchange rates of €4.39 billion ($5.19 billion) compared with €3.74 billion ($4.41 billion) in 2020.
Sales also exceeded pre-pandemic levels in most areas, up 18 percent year-over-year.
The boost in sales was led by its jewelry houses and specialist watchmakers, said Richemont.
Sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, were up 142 percent at constant and actual exchange rates, reaching €2.52 billion ($2.97 billion) compared with €1.08 billion ($1.28 billion) a year ago.
Sales in Richemont’s specialist watchmakers division were up 143 percent to €849 million ($1 billion) compared with €359 million ($423.5 million) in 2020.
Breaking it down by region, the Americas gave the strongest performance, with local demand driving sales up 276 percent.
In second place was the Middle East and Africa, with sales up 154 percent, followed by Japan (138 percent), Europe (108 percent), and Asia Pacific (96 percent).
Retail sales at Richemont-owned and -operated boutiques were up 138 percent.
Related stories will be right here …
Wholesale sales were up 178 percent in the quarter while online retail sales were up 67 percent.
The company did not hold an earnings call or provide financial guidance for the year ahead.
Following a review of its governance, Richemont has made some changes to its executive board.
The Senior Executive Committee will focus on strategic direction, capital allocation, and other functions to benefit the business while the executives in charge of the various brands will zero in on sustainable development, a customer-focused approach, and growing digital initiatives.
“The continual evolution of our corporate governance structures reflects our commitment to meet the changing demands of our operating environment most efficiently and align with best practice,” said Chairman Johan Rupert in a press release about the results.
To focus on these new responsibilities, Cyrille Vigneron, president and chief executive of Cartier, and Nicolas Bos, president and chief executive of Van Cleef & Arpels, will step down from the Senior Executive Committee and will not seek re-election to the board of directors.
Philippe Fortunato, CEO of fashion and accessories, Emmanuel Perrin, head of the specialist watchmakers distribution, and Frank Vivier, chief transformation officer, will also step down from the Senior Executive Committee.
The changes go into effect Sept. 8 with all executives still reporting to Rupert, and maintaining their roles.
Rupert, Jérôme Lambert and Chief Financial Officer Burkhart Grund will remain on the Senior Executive Committee and be up for re-election to the board of directors at the annual general meeting.
Alan Quasha, who has served as non-executive director of the company and its predecessor companies since the Group’s foundation in 1988, will not seek reelection to the board.
Editors' Picks
Sponsored by
More on Financials
The Latest
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
SourcingApr 08, 2026
Sale of 42-Carat Blue Diamond Gives Petra a Boost in Q3The big diamond’s sale added to the company’s revenue though the market remains “challenging” overall, particularly for smaller goods.
Events & AwardsApr 08, 2026
AGS Confluence Returns with AI, Sustainability SessionsRob Bates of The Jewelry Wire will also moderate a panel on the state of the jewelry industry during the virtual event.
Events & AwardsApr 08, 2026
TJS to Honor 2 Longtime Former Stuller EmployeesThe Jewelry Symposium will honor two industry veterans with lifetime achievement awards at its upcoming May event.
TrendsApr 08, 2026
Amanda’s Style File: April’s Brilliant Birthstone With their durability, brilliance, and beauty, diamonds are the perfect stone for everyday birthstone jewelry.
MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
SourcingApr 06, 2026
Gemfields Reports $51M Loss in 2025Both its mines faced challenges last year, from operational issues to disruptions in the market.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
