PodcastsJan 12, 2026
The latest poscasttest
FinancialsJul 19, 2019
Richemont Q1 Jewelry Sales Strong, But Watch Sales Falter
Protests in Hong Kong dampened first-quarter sales in a key watch market.
Richemont’s headquarters in Bellevue, Switzerland. The luxury giant’s first-quarter jewelry sales were strong, but the watch segment didn’t perform as well. (Photo courtesy of Richemont.)
Geneva—Luxury conglomerate Richemont reported strong sales growth in its first-quarter results, but a slowdown in watch sales somewhat dulled its shine.
Overall sales totaled €3.74 billion ($4.20 billion), a 9 percent increase at constant exchange rates.
Sales in its jewelry division, which includes Cartier and Van Cleef & Arpels, were up 7 percent to €1.83 billion ($2.05 billion).
Sales in its specialist watchmakers division, which includes A. Lange & Söhne and IWC Schaffhausen, were up 1 percent at actual exchange rates to €823 million ($923 million), but down 2 percent at constant exchange rates.
In Hong Kong, a key market for watch sales, the strong Hong Kong dollar coupled with recent protests weighed on sales, said the company.
Richemont also pointed to “ongoing cautious watch inventory management and distribution optimization initiatives” as factors behind the negative impact on its wholesale channel.
By region, sales in the Americas increased by 10 percent to €698 million ($783 million). Jewelry sales were strong in the region, which outweighed lower watch sales.
Sales in Europe were up 12 percent to €1.07 billion ($1.20 billion) due to “good momentum” in the jewelry segment while strong domestic and tourist spending sent sales in Japan up 8 percent to €298 million ($334 million).
Sales in Asia Pacific, the company’s largest region, rose 10 percent to €1.42 billion ($1.59 billion).
The company noted it performed particularly well in mainland China, due in part to lower VAT (value-added tax) and custom duty rates.
The Middle East and Africa segment was the sole decliner, dipping 7 percent to €249 million ($2.79 million).
The company pointed to “unfavorable” currency movements and the severing of ties with selected wholesalers as factors behind the decline.
Richemont didn’t provide guidance for the year ahead, but noted that more product launches would be on the way by its second quarter.
Editors' Picks
Sponsored by
More on Financials
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
