Richemont has reported an 8 percent rise in jewellery sales for the financial year, reaching €15.33 billion (AUD 26.77 billion). Revenue grew in all regions except Asia.
The company’s jewellery brands, including Cartier, Van Cleef & Arpels, and Buccellati, showed strong sales. This helped offset a decline in revenue from its watch brands.
Richemont’s CEO, Nicolas Bos, said it was encouraging to see jewellery brands remain resilient despite challenges facing the luxury sector.
He said, “There are very good dynamics around our various jewellery maisons — Cartier, Van Cleef & Arpels, Buccellati, and Vhernier, which we recently added.”
Bos added, “We see a very active and positive market for these brands. While we cannot predict the year ahead, the last quarter was a good sign.”
Chairman Johann Rupert noted that price increases seemed to hurt some competitors. He emphasized the importance of building long-term relationships with customers.
On the other hand, sales of Richemont’s watch brands — such as Piaget, Vacheron Constantin, and IWC Schaffhausen — fell by 13 percent.
Overall, Richemont’s total sales for the year rose 4 percent to €21.4 billion (AUD 37.37 billion), with profit increasing by 17 percent.
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