Richemont Revenue Hits $26 Billion, Jewelry Sales Surge 14%
Luxury conglomerate Richemont, owner of Cartier, Van Cleef & Arpels, and Piaget, reported annual revenue of approximately $26 billion (22.4 billion euros), an 11% increase. Jewelry brands led growth with a 14% sales rise to $19.2 billion (16.5 billion euros). Watch sales edged up 1% to $3.6 billion (3.1 billion euros), with signs of recovery outside China. Fashion and accessories grew 3% to $3.1 billion (2.7 billion euros). Chairman Johann Rupert denied rumors of selling Jaeger-LeCoultre, calling it "nonsense" and praising the brand as "the watchmaker's watchmaker." He stated the company is in "great shape" despite geopolitical challenges.
Key facts
- Richemont annual revenue $26 billion (22.4 billion euros), up 11%
- Jewelry brands sales $19.2 billion (16.5 billion euros), up 14%
- Watch brands sales $3.6 billion (3.1 billion euros), up 1%
- Fashion and accessories sales $3.1 billion (2.7 billion euros), up 3%
- Chairman Johann Rupert denied plans to sell Jaeger-LeCoultre
- Richemont implemented 'measured price increases' due to gold prices and currency movements
- Watch market showing encouraging signs outside China
- Rupert described Jaeger-LeCoultre as 'the watchmaker's watchmaker'
Entities
Institutions
- Richemont
- Cartier
- Van Cleef & Arpels
- Piaget
- Buccellati
- Vhernier
- A. Lange & Söhne
- Jaeger-LeCoultre
- Vacheron Constantin
- WWD
Locations
- China