Richemont’s jewelry division has powered the luxury group to its highest-ever quarterly revenue, as demand for high-end pieces surged across all major markets, particularly in the Americas and Europe.
In the third fiscal quarter ending December 31, Richemont’s flagship jewelry brands—including Cartier, Van Cleef & Arpels, Buccellati, and Vhernier—saw sales jump 14% year over year to EUR 4.5 billion ($4.63 billion). Despite a strong comparison base from the prior year, every region recorded impressive gains, cementing jewelry as the group’s best-performing segment.
“Retail sales increased across nearly all regions, led by our jewelry maisons,” the company stated. Wholesale sales and online sales also saw double-digit growth, with online transactions rising 17%, further emphasizing the strength of Richemont’s jewelry sector.
Luxury jewelry collections, particularly those featuring new designs and seasonal novelties, experienced heightened demand during the holiday shopping period. These results helped offset weaker performance in Richemont’s watchmaking division, where sales at specialist brands such as IWC Schaffhausen, Piaget, and Vacheron Constantin declined by 8% year over year to EUR 867 million ($892.6 million). However, this figure was an improvement from the 17% drop in the first half of the fiscal year, with notable double-digit gains in the Americas, Middle East, and Africa.
Overall, Richemont’s total revenue—including jewelry, fashion, accessories, and timepieces—rose 10% year over year to EUR 6.15 billion ($6.33 billion). For the nine-month period from April to December, jewelry sales climbed 6% to EUR 11.59 billion ($11.94 billion), while watch sales fell 14% to EUR 2.52 billion ($2.6 billion). Total group revenue during the period increased by 3% to EUR 16.23 billion ($16.71 billion).
As Richemont’s jewelry maisons continue to drive record-breaking sales, could this signal a lasting shift in luxury spending trends?