Richemont’s best performing division was jewelry during the the last quarter of 2023. Cartier, Van Cleef & Arpels, and Buccellati collectively experienced a 6% year-on-year increase in sales, reaching $4.31 billion for the three months ending December 31.
The Swiss luxury group reported growth across all geographies except Europe, which they attributed to a decline in tourist spending. Surging sales in the Americas, Hong Kong and China more than compensated for the weakness. Sales in Asia were highest, with Japan bringing in over $550 million, a year-on-year increase of 18%, and the Asia-Pacific yielding $2.2 billion, a rise of 13%.
Overall group revenue, spanning jewelry, fashion, accessories, and timepieces, saw a 4% year-on-year increase totaling $6.09 billion. The company highlighted strong sales by their jewelry maisons as a key factor in reaching those figures.
