Richemont’s H1 Jewelry Sales Climb 10%
Rising jewelry sales and a rebound in the Asia-Pacific region were the main growth drivers for the company as a whole.
For the first half ending Sept. 30, Richemont posted sales of €10.22 billion ($10.94 billion), a 6 percent year-over-year increase at actual exchange rates.
Sales in all regions, except the Americas, were on the rise at actual exchange rates compared to the prior period, led by Asia-Pacific with sales up 14 percent in the region as COVID restrictions were eased.
In the Americas, Richemont’s third-largest market by revenue percentage, sales fell 4 percent (up 1 percent at constant exchange rates) due to lower wholesale sales, slowing watch sales, and a “relatively weak” U.S. dollar.
Overall, retail sales were up 9 percent year-over-year, while online sales slipped 7 percent. Wholesale sales grew 1 percent.
Richemont’s jewelry brands, Buccellati, Cartier, and Van Cleef & Arpels, saw sales increase 10 percent year-over-year, led by the Asia-Pacific region.
“The strong performance was broad-based across product categories from silverware at Buccellati to high jewelry at the group’s three jewelry maisons,” said Richemont.
Popular collections included Cartier’s “Clash” and “Grain de Café;” Van Cleef & Arpels’ “Fauna” and “Perlée;” and Buccellati’s “Opera Tulle” and “Ramage.”
Richemont’s watch brands are: A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin.
Sales in the category slipped 3 percent in the first half.
Cartier’s “Santos” and “Tank” collections performed well, as did Van Cleef & Arpels’ “Alhambra” watches.
“Performance was varied across the maisons with a continued outperformance by A. Lange & Söhne and Vacheron Constantin,” said Richemont.
“However, demand for iconic collections remained resilient, in particular ‘Riviera’ for Baume & Mercier, pilot’s watches for IWC, ‘Reverso’ for Jaeger-LeCoultre, ‘Radiomir’ for Panerai, ‘Polo’ for Piaget, and ‘Excalibur’ for Roger Dubuis.”
Richemont did not provide guidance for the second half of the fiscal year.
The Latest
The company’s Easton location will remain open.
Show your mother some love with a piece of fine jewelry.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”