AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
FinancialsNov 09, 2020
Cartier, Van Cleef Classics Stand Strong for Richemont
Cartier’s Clash de Cartier and Van Cleef & Arpels’ Perlée collection were among the top sellers in the first half of the year.
A 1926 Art Deco Cartier desk clock featuring a circular burgauté lacquer dial inset with cabochon moonstones, mother-of-pearl, enamel, cabochon turquoises and rose-cut diamonds. The Richemont-owned brand was resilient in a rocky first half of the fiscal year.
Geneva—Richemont’s first-half sales fell by double digits amid the COVID-19 pandemic, but its jewelry brands were resilient.
The luxury titan posted a 26 percent drop year-over-year in half-year sales at actual exchange rates to €5.48 billion ($6.49 billion) compared with €7.39 billion ($8.78 billion) in 2019.
Sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, were down 18 percent, reaching €3.06 billion ($3.63 billion) compared with €3.74 billion ($4.43 billion) a year ago.
“This business area [jewelry] was the first to rebound upon emerging from the lockdowns driven by strong presence in China, and a well-developed online offer and enduring appeal of the iconic collections,” said Chief Financial Officer Burkhart Grund during an earnings call.
The company held virtual events, like high jewelry previews and watchmaking presentations, in lieu of its planned physical events to promote the category.
Online sales of its jewelry brands increased by triple digits, said Sophie Cagnard, group corporate communications director.
The classic collections from Cartier and Van Cleef were the top sellers in the first half of the year.
Cartier added a white gold option to Clash de Cartier and a slimmer model of the diamond version of its popular Juste Un Clou bracelet, while Van Cleef & Arpels added to its Perlée and Frivole collections.
Cartier’s Santos and new Maillon de Cartier watch collections did well.
Though Richemont is tightening its belt, it is making strategic investments in store renovations, including the Van Cleef store in Paris’ Place Vendôme, the Cartier boutique in Shanghai’s Plaza 66, and a relocated Buccellati store on London’s Albemarle Street.
RELATED CONTENT: LVMH Struggles, But Sees Recovery in Q3Sales in Richemont’s specialist watchmakers division sank 38 percent to €966 million ($1.15 billion) compared with €1.57 billion ($1.86 billion) in 2019.
In addition to the effects of the COVID-19 pandemic, the decline in the segment was due in part to a “strong reliance” on multi-brand retail partners, said Richemont.
Sales were down by more than half in the first quarter, but improved to a decline of 18 percent in the second quarter, bolstered by a strong performance in China.
Richemont highlighted “notable performances” from Vacheron Constantin with the new Egérie and blue dial Overseas, IWC Schaffhausen’s new editions to the Portugieser collection, and Jaeger-LeCoultre’s relaunched Master Control collection.
IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget and Vacheron Constantin joined Cartier on the Tmall Luxury Pavilion.
Investments in its watch division include the renovated IWC Zurich Bahnhofstrasse
Editors' Picks
Sponsored by
store and the new Piaget store in Galeries Lafayette, Paris.
Breaking it down by region, quarterly sales in the Americas sank 33 percent at actual exchange rates, attributed to the temporary store and distribution center closures.
All U.S. channels, including online retail sales, recorded a low-single-digit decline in sales, said Richemont.
All other markets posted lower sales for the first half of the year except China, where sales climbed 83 percent.
Richemont recently inked a deal with Alibaba and Farfetch to further boost growth in the Chinese market.
Retail sales (sales at Richemont-owned and -operated boutiques) were down 23 percent to €2.93 billion ($3.48 billion) in the first six months compared with €3.81 billion ($4.52 billion) a year ago.
Wholesale sales fell 42 percent in the first half.
Online retail sales were more resilient than other sales channels, said Richemont, declining only 3 percent year-over-year despite the temporary closure of fulfillment centers in the first quarter.
Overall online sales, including online distributors, accounted for 22 percent of sales, up from 17 percent a year ago.
Richemont did not provide financial guidance for the year ahead.
Breaking it down by region, quarterly sales in the Americas sank 33 percent at actual exchange rates, attributed to the temporary store and distribution center closures.
All U.S. channels, including online retail sales, recorded a low-single-digit decline in sales, said Richemont.
All other markets posted lower sales for the first half of the year except China, where sales climbed 83 percent.
Richemont recently inked a deal with Alibaba and Farfetch to further boost growth in the Chinese market.
Retail sales (sales at Richemont-owned and -operated boutiques) were down 23 percent to €2.93 billion ($3.48 billion) in the first six months compared with €3.81 billion ($4.52 billion) a year ago.
Wholesale sales fell 42 percent in the first half.
Online retail sales were more resilient than other sales channels, said Richemont, declining only 3 percent year-over-year despite the temporary closure of fulfillment centers in the first quarter.
Overall online sales, including online distributors, accounted for 22 percent of sales, up from 17 percent a year ago.
Richemont did not provide financial guidance for the year ahead.
More on Financials
The Latest
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
