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
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
Weekly QuizApr 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 30, 2026
Masked Group Uses Hammers, Pepper Spray in Texas Jewelry Store RobberyOfficials are looking for a group that robbed Marc Robinson Jewelers at an outlet mall in Round Rock, Texas, in broad daylight on April 21.
Supplier BulletinApr 30, 2026
OROAREZZO 2026: The B2B Event for Italian Excellence in Goldsmith, Jewelry and Silver ManufacturingSponsored by OROAREZZO International Jewelry Exhibition
TechnologyApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
IndependentsApr 29, 2026
Dick Abbott to Retire From The EdgeThe Edge has announced its new CEO, as well as a new partnership with an investment firm focused on founder-led software businesses.
SourcingApr 29, 2026
De Beers’ Production Rises, Market Remains ‘Challenged’De Beers’ diamond production was up 17 percent in Q1, boosted by increased output at its mines in South Africa and Canada.
AuctionsApr 29, 2026
This'll Be the Day You Own John Wayne's RingA signet ring belonging to the Western film star of Hollywood’s Golden Age will be up for auction at Elmwood’s next month.
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
IndependentsApr 28, 2026
This North Carolina Jeweler Is Passing the TorchThe owners of Gregory Jewelers in Morganton, North Carolina, are heading into retirement.
SourcingApr 28, 2026
Doug Hucker Retires From ICAThe colored gemstone industry leader is heading into retirement after four years as the association’s CEO.
SourcingApr 28, 2026
NDC Hires Tapestry Exec to Head Global Marketing Susie Dewey joins the Natural Diamond Council as its new chief marketing officer.
AuctionsApr 27, 2026
12 Years Later, the ‘Ocean Dream’ Diamond Resurfaces at Christie’sThe largest known fancy vivid blue-green diamond could fetch more than $12 million at its second auction appearance.
ColumnistsApr 27, 2026
Stop Treating Mother’s Day Like an AfterthoughtEmmanuel Raheb says jewelers need to start marketing early and make it easy for customers to pick a gift for mom.
IndependentsApr 27, 2026
Longnecker Jewelry Celebrates 30 YearsIn honor of the milestone, the Nebraska jeweler has debuted Leslie & Co., its new in-house jewelry brand.
MajorsApr 27, 2026
JBT Re-Elects Jeff Corey as Board ChairThe trade organization, which held its annual elections earlier this year, also added five new board members.
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
