CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
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
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
TrendsJan 23, 2026
Martin Katz’s Earrings Call to Mind Wintry Weather Micro-set with hundreds of diamonds, these snowflake earrings recreate “winter’s most elegant silhouette,” and are our Piece of the Week.
MajorsJan 23, 2026
Rembrandt Charms Names New Director of Creative, Brand StrategyElla Blum was appointed to the newly created role.
Supplier BulletinJan 22, 2026
The Rise of Centralized Sourcing in the Colored Gemstone MarketSponsored by RapNet
MajorsJan 22, 2026
Lugano Diamonds Finds a BuyerInvestment firm Enhanced Retail Funding, a division of Gordon Brothers, was the successful bidder.
SourcingJan 22, 2026
De Beers To Release ‘A Diamond Is Forever’ BookIt explores the history of the iconic tagline and the company’s strategy to redefine the role of diamonds in society.
MajorsJan 22, 2026
Swarovski Appoints New North America PresidentRetail veteran Sindhu Culas has stepped into the role.
