M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
Sales in the Americas remain ‘strong’ for Richemont
Sales in the Americas grew 12 percent at constant exchange rates for Richemont in the five-month period ended Aug. 31, the company reported Thursday.
Geneva--Sales in the Americas grew 12 percent at constant exchange rates for Richemont in the five-month period ended Aug. 31, the company reported Thursday.
While the Geneva-based luxury goods conglomerate, which owns Cartier and Van Cleef & Arpels along with a number of luxury watch brands, described overall sales growth as “subdued” that was due only to weakness in Europe, Asia-Pacific and Japan. Sales growth in the Americas “remained strong,” the company said.
In addition, as noted previously by Richemont, its retail sales, meaning sales at company-owned boutiques, continue to outperform its wholesale sales, albeit at a lower level than last year.
During the period, global retail sales grew 5 percent at constant exchange rates while wholesale was up only 2 percent. Sales at Van Cleef & Arpels stores and on Net-A-Porter, an e-tailer of high-end goods, were particularly strong.
The company’s specialist watchmakers, which are Baume & Mercier, IWC, Jaeger-LeCoultre, Roger Dubuis, Officine Panerai, Vacheron Constantin and Piaget, saw 4 percent sales growth at constant exchange rates.
The company’s jewelry maisons, Cartier and Van Cleef & Arpels, recorded 2 percent sales growth. For Cartier specifically, Richemont noted that jewelry sales continue to outperform sales of the brand’s watches, which “have suffered from weak demand and destocking, particularly in Asia Pacific.”
Overall, Richemont’s sales for the five-month period were up 4 percent at constant exchange rates.
The Latest
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.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
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.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
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.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.