Richemont, the Swiss luxury company, announced that its three Jewellery Maisons, Buccellati, Cartier, and Van Cleef & Arpels, had remarkable performance, increasing revenues by 19% to €3.59 billion in the first quarter that concluded on June 30, 2023.
Jewellery sales were critical to Richemont‘s performance, accounting for 68% of overall revenues, which increased 14% to €5.32 billion in the quarter. According to Richemont, this excellent performance was driven by increasing sales across practically all regions and distribution channels, with the Jewellery Maisons leading the way.
With the exception of the Americas, where sales remained largely stable, the Jewellery Maisons succeeded in all channels and areas. This expansion was fueled by strong retail sales, which accounted for about 60% of the business area’s sales, according to the company.