Richemont posts strong Q4 as jewelry sales rebound

Lenore Fedow

The luxury titan’s jewelry sales exceeded pre-COVID levels.

Richemont ended the fiscal year on a high note, with quarterly sales up double digits and jewelry sales exceeding pre-COVID levels.

Full-year sales were down 8 percent to €13.14 billion ($16.06 billion), compared with €14.24 billion ($17.39 billion) in 2020.

However, fourth-quarter sales were up 30 percent year-over-year at actual exchange rates.

Full-year sales in Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, rose 3 percent to €7.46 billion ($9.11 billion), compared with €7.22 billion ($8.82 billion) a year ago.

The category saw a 54 percent sales rebound in the fourth quarter.

Jewelry sales saw strong double-digital growth in the second half of the year, surpassing pre-COVID levels by the end of the year, Richemont said, crediting “the enduring appeal of Cartier, Van Cleef & Arpels, and Buccellati.” 

Retail sales in the segment were strong, with online sales up triple digits for the full year.

The iconic collections continued to perform well, including Clash Supple and Santos for Cartier, Frivole and Perlée for Van Cleef & Arpels, and Opera Tulle for Buccellati.

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Source National jeweler 

Photos © Van Cleef & Arpels.