Revenue at Richemont’s jewelry brands rose by double digits in the first fiscal half as the company saw strong sales, especially in Japan, the Americas and Asia Pacific.
Sales at the group’s jewelry houses increased 18% year on year to EUR 9.15 billion ($10.08 billion) for the six months that ended September 30, the Swiss luxury group reported Friday. At constant exchange rates, sales at the maisons, which include Cartier, Van Cleef & Arpels, Buccellati, and Vhernier, gained 19%.
Revenue at the specialist watchmakers – A. Lange & Söhne, Piaget, and Vacheron Constantin – climbed 9% to EUR 1.71 billion ($1.88 billion).
The strong performance stemmed from sustained demand for iconic jewelry and watch collections across markets, with a boost from new product launches at Buccellati, Cartier, and Van Cleef & Arpels. High-jewelry sales also grew, while Vhernier benefited from a revamped product lineup. Despite rising raw-material costs, the jewelry maisons maintained a disciplined pricing strategy and continued investing to support future growth, the company added.
Overall, the group saw a strong performance in the Americas, up 23%, as Japan improved 18% and Asia Pacific 17%. Sales in China, Hong Kong and Macau rose 7% in the first half, despite a slowdown in mainland China during the second quarter. Europe gained 12%, thanks to local demand and tourism, while sales slipped 2% in the Middle East and Africa.
Group sales, encompassing jewelry, fashion, accessories and timepieces, advanced 14% to EUR 5.95 billion ($6.56 billion) in the second quarter. Revenue climbed 16% to EUR 12.28 billion ($13.56 billion) for the first six months, and profit for the period jumped 39% to EUR 2.53 billion ($2.79 billion).
Image: A Cartier store in Hangzhou, China. (Shutterstock)
