Jewellery & Watches

As Watch Sales Slow Down, Jewellery Divisions Shine on for Richemont and Kering

By Shilpa Dhamija
Published 24 May, 2024

Swiss brand Richemont, which owns prestigious brands such as Cartier, Buccellati, and Van Cleef & Arpels, achieved an impressive 6% increase in jewellery sales (at actual exchange rates) during the financial year from April 2023

Swiss brand Richemont, which owns prestigious brands such as Cartier, Buccellati, and Van Cleef & Arpels, achieved an impressive 6% increase in jewellery sales (at actual exchange rates) during the financial year from April 2023 to March 2024, surpassing €14 billion in revenue. The company’s jewellery division posted a robust operating margin of 33.1%.

However, Kering’s jewellery division, which includes Boucheron, Pomellato, DoDo and Qeelin, together, delivered  better performance than the luxury fashion brands. Notably, Boucheron grew by a double-digit percentage. Its classic collection Quatre, celebrating its 20th anniversary, drove sales in the first quarter.

 

Shilpa Dhamija

Shilpa is a world renowned journalist and an expert in decoding India and Asia’s luxury markets for global readers. Her original, in-depth reports and analysis are frequently featured in prestigious international titles across the UK, China, Hong Kong, Switzerland, and Oman.

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