In the third fiscal quarter, the revenue from Richemont’s jewelry brands, including Cartier, Van Cleef & Arpels, and Buccellati, rose 6% year-on-year, reaching EUR 3.95 billion ($4.31 billion), Diamond World reports.
This growth was driven by heightened demand in key markets such as China, Hong Kong, and the US. Meanwhile, increased domestic sales in the Americas and the resurgence of tourism in Hong Kong and China compensated for a slowdown in Europe.
The jewelry division has been Richemont’s top-performing segment, managing to offset softer sales in other categories. Wholesale sales exceeded the previous year by 4%, contributing to an overall 4% year-on-year rise in group revenue, totaling EUR 5.59 billion ($6.09 billion).
From April to December 2023, jewelry sales rose 8% to EUR 10.91 billion ($11.88 billion), while specialist watchmakers fell 2% to EUR 2.93 billion ($3.19 billion). The group’s overall sales for the period rose 5% to EUR 15.81 billion ($17.22 billion).
