The retailer’s jewelry sales doubled, with branded jewelry performing especially well.
Financials
The jewelry retailer addressed the lab-grown diamond “disruption,” the price of gold, and its holiday weekend performance.
Richemont’s jewelry sales ticked up 2 percent in the first half of the year, while watch sales plummeted 17 percent.
Latest in Financials
The retailer has been upping its marketing spend to drive revenue growth and brand awareness.
Plus, CEO Beth Gerstein shares her insight on the holiday season and the possibility of new tariffs.
The Danish jewelry company plans to open up to 150 concept stores this fiscal year.
‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
The retailer said it will file the necessary paperwork to regain compliance as soon as it is able.
Sales fell 15 percent for the luxury conglomerate in the third quarter, led by a 26 percent drop in sales for flagship brand Gucci.
Sales slipped 4 percent in the third quarter in an environment the company described as economically and politically uncertain.
For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
The jewelry giant said it expects to see an uptick in engagements in the second half of the year.
CEO Efraim Grinberg pointed to a challenging consumer spending environment, particularly in the watch category.
The jewelry retailer is eyeing expansion, increasing the number of stores it plans to open this year.
The jewelry retailer is forecasting sales will fall as much as 14 percent in its third quarter.
The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
In contrast, the luxury giant’s watch sales fell 14 percent.
The company is expecting to see a 5 to 10 percent increase in engagements this year.
The company attributed the decline to a “challenging” retail environment.
The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.
The jewelry giant also posted a double-digit drop in same-store sales for the full year.
CEO Beth Gerstein spoke about the growing appeal of its non-bridal fine jewelry and its expansion plans on its recent earnings call.
The luxury conglomerate owns Boucheron, Pomellato, DoDo, and Qeelin.
Everyday
From market analysis to emerging jewelry trends, National Jeweler’s Daily Newsletter covers the most important industry news of the day.
Subscribe