Richemont Q1 Jewelry Sales Offset Watch Decline

Richemont, the Swiss luxury group and owner of Cartier and Van Cleef & Arpels, reported a 6% rise in quarterly sales to €5.4 billion for the quarter ended June 30, 2025, driven by strong demand in its jewelry division. Jewelry sales surged 11%, marking the third consecutive quarter of double-digit growth and offsetting a 7% decline in the specialist watchmakers division. The Americas led with a 17% sales increase, while Europe and the Middle East-Africa also posted double-digit gains, balancing out stagnation in Asia due to continued weakness in China, Hong Kong, and Macau. Richemont’s resilience stands out as overall global luxury goods sales are forecast to decline further this year. The company credits its performance to affluent consumers shifting preferences toward timeless jewelry rather than categories like handbags, which have seen steeper price increases. Despite macroeconomic, geopolitical volatility, and ongoing tariff concerns, Richemont’s jewelry focus and successful high jewelry events have continued to support its results.