Jewelry Continues to Strengthen at Richemont

Revenue at Richemont’s jewelry brands rose in the third fiscal quarter, with strong demand in the Americas, Japan, and the Middle East and Africa regions.

Sales at Buccellati, Van Cleef & Arpels, Cartier, and Vhernier increased 6% year on year to EUR 4.79 billion ($5.57 billion) for the three months that ended December 31, the Swiss luxury group stated Thursday. Jewelry was Richemont’s top-performing division during the period. 

“Both jewelry and watch categories grew strongly, led by iconic lines and fueled by attractive novelties and impactful communication,” the company said. “Sales rose by double digits across all channels.”

Sales at specialist watchmakers — which include IWC Schaffhausen, Piaget and Vacheron Constantin — climbed 1% year on year to EUR 872 million ($1 million), the division’s second consecutive quarter rise. At constant currency rates, the watches category grew 7%.

Group revenue — encompassing jewelry, fashion, accessories and timepieces — was up 4% year on year to EUR 6.4 billion ($7.45 billion).

In the nine months from April to December, jewelry revenue gained 8% to EUR 12.53 billion ($14.58 billion), while sales at specialist watchmakers slipped 4% to EUR 2.43 billion ($2.83 billion). Group sales advanced 5% to EUR 17.02 billion ($19.8 billion).

Image: A Van Cleef & Arpels store in China. (Shutterstock)