Richemont’s Jewellery Sales Soar 19% In Q1

Swiss luxury conglomerate Richemont said its three Jewellery Maisons, Buccellati, Cartier, and Van Cleef & Arpels, delivered exceptional results, achieving a 19% increase in sales to €3.59 billion during the first quarter that ended on 30th June 2023.

Jewellery sales played a pivotal role in Richemont’s success, accounting for a substantial 68% of the company’s total revenues, which rose 14% to €5.32 billion in the quarter. This positive performance was driven by higher sales across almost all regions and distribution channels, with the Jewellery Maisons leading the way, Richemont said.

The Jewellery Maisons excelled in all channels and regions, with the exception of the Americas, where sales remained relatively flat. This growth was fuelled by thriving retail sales, which accounted for nearly 60% of the business area’s sales, it informed.

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