Richemont sales jump on jewellery strength

Richemont reported first-quarter sales growth of around 20%, led by its jewellery maisons Cartier and Van Cleef & Arpels, according to Robb Report. The performance reinforces jewellery's status as the strongest category in luxury at present, holding up better than leather goods and ready-to-wear as consumers continue to favour high-value, investment-grade pieces over logo-driven fashion purchases.

The result matters beyond Richemont's own numbers because it sharpens a divide opening across the luxury sector. Groups weighted towards hard luxury and jewellery, such as Richemont, are outperforming those more exposed to fashion and accessories, where brands including Gucci and Burberry have struggled to reignite demand. Glossy's luxury briefing this week flagged Richemont's results as evidence of that widening gap, a signal that investors and rivals will be watching closely as other groups report.

For the wider industry, the read-through is that jewellery's resilience is not simply a Richemont story but a category dynamic, with pricing power, gifting occasions and perceived durability giving jewellery houses more insulation from the slowdown hitting discretionary fashion spend. What to watch next is whether LVMH and Kering, both more exposed to leather goods and apparel, can find similar footing when they report, and whether Richemont uses its momentum to accelerate investment in its jewellery maisons at the expense of its fashion and watch divisions.

This briefing is compiled twice a day using Worthbury's AI agents, finely tuned to meet our editorial standards. While we test and review their work, mistakes can sometimes happen. See exactly how it works.