Richemont’s jewellery maisons, including Buccellati, Cartier, and Van Cleef & Arpels, have seen a 2% year-over-year sales increase in the first half of 2024, reaching €7.1 billion. While all regions except Asia Pacific experienced growth, the Americas and Japan were the primary contributors.
Iconic collections like Trinity, Clash, Panthère, and Santos at Cartier, and Alhambra, Perlée, and Flora at Van Cleef & Arpels drove strong performance. High jewellery sales remained positive, supported by new launches and heritage collections, Richemont said.
The company continued investing in its distribution network through boutique openings, relocations, and renovations. Additionally, investments were made in manufacturing capacity to support future demand. However, rising raw material costs, particularly gold, and increased investments in distribution and marketing impacted the operating result, which declined 5%. The operating margin stood at 32.9%.
Despite margin pressure, Richemont remains optimistic about the long-term growth prospects of its jewellery maisons, driven by strong brand equity, innovative product offerings, and a global customer base.