Richemont Posts Strong Q4 as Jewelry Sales Rebound
The luxury titan’s jewelry sales exceeded pre-COVID levels.

Full-year sales were down 8 percent to €13.14 billion ($16.06 billion), compared with €14.24 billion ($17.39 billion) in 2020.
However, fourth-quarter sales were up 30 percent year-over-year at actual exchange rates.
Full-year sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, rose 3 percent to €7.46 billion ($9.11 billion), compared with €7.22 billion ($8.82 billion) a year ago.
The category saw a 54 percent sales rebound in the fourth quarter.
Jewelry sales saw strong double-digital growth in the second half of the year, surpassing pre-COVID levels by the end of the year, Richemont said, crediting “the enduring appeal of Cartier, Van Cleef & Arpels, and Buccellati.”
Retail sales in the segment were strong, with online sales up triple digits for the full year.
The iconic collections continued to perform well, including Clash Supple and Santos for Cartier, Frivole and Perlée for Van Cleef & Arpels, and Opera Tulle for Buccellati.
Meanwhile, full-year sales in Richemont’s specialist watchmakers division sank 21 percent to €2.25 billion ($2.74 billion), compared with €2.86 billion ($3.49 billion) in 2020.
But quarterly sales were up 10 percent year-over-year.
The division saw double-digit sales in Asia Pacific following the opening of five flagship stores on Alibaba’s luxury e-commerce platform Tmall Luxury Pavilion, including IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Vacheron Constantin.
Participation in Watches & Wonders fairs in Shanghai and Sanya, China also boosted sales while sales to local clientele offset the drop in tourism dollars.
Breaking it down by region, full-year sales in the Americas were down 15 percent to €2.39 billion ($2.92 billion).
Quarterly sales were up 21 percent, bolstered by strong online retail sales, though e-commerce growth could not compensate for declines in other areas.
The Asia-Pacific region saw the strongest growth, up 19 percent for the year while quarterly sales surged 106 percent. Sales growth in mainland China offset declines in locations seeing a halt in tourism, like Hong Kong and South Korea.
Full-year sales in the Middle East and Africa slipped 1 percent, though international tourism began to return in the second half of the year.
In Europe, public health measures and a halt in tourism sent full-year sales down 31 percent. Quarterly sales were down 7 percent.
In Japan, full-year sales were down 22 percent due to the lasting impact of COVID-19 while fourth-quarter sales were up 15 percent as online sales rose.
Retail sales (sales at Richemont-owned and -operated boutiques) slipped 1 percent to €7.25 billion ($8.85 billion) for the full year, compared with €7.34 billion ($8.96 billion) a year ago.
Quarterly retail sales were up 62 percent year-over-year. Sales in Asia Pacific and the Middle East and Africa were especially strong.
Wholesale sales fell 27 percent for the full year to €3.10 billion ($3.79 billion), compared with €4.25 billion ($5.19 billion) a year ago. Quarterly sales were up 1 percent.
Online retail sales were up 6 percent to €2.79 billion ($3.41 billion), compared with €2.65 billion ($3.23 billion) a year ago. Sales were up 22 percent in the fourth quarter.
Richemont did not provide financial guidance for the year ahead.
The Latest

Its “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.

Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.

“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.

The month’s birthstones, tourmaline and opal, complement the palette of autumn.


Smith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.

Associate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

Respondents were concerned about job availability and rising prices.

Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.

Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.

Two men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.

The “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.

The brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.

She was remembered as a creative and generous woman of faith, who also had a sweet tooth.

Move over neck mess, the ear story is the way to make a layering statement today.

The New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.

The “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.

Holiday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.

Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.

The red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.

A trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.

Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.

The manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.

The jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.

The Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.