Luxury conglomerate Richemont reported strong jewellery sales in the first half of its fiscal year as global demand for high jewellery brands Cartier, Van Cleef & Arpels and Buccellati continue to gain traction in a post-lockdown era.

The group’s jewellery arm saw a 67 per cent year-on-year increase in sales and a record 38 per cent jump in operating margin for the six months ending September 30, 2021. When compared to 2019 before the onset of Covid-19, sales were up 37 per cent, supported by robust performance of the US, Asia Pacific, the Middle East and African markets.

“Our jewellery maisons have emerged ever stronger from the global economic crisis caused by the Covid-19 pandemic,” said Richemont Chairman Johann Rupert. "Cartier and Van Cleef & Arpels have reaffirmed their leadership position as jewellers of choice while Buccellati’s distinctive savoir faire and aesthetics are getting international recognition.”

Consumer interest was steady for high jewellery pieces and iconic collections, notably Tulle at Buccellati, Panthère at Cartier and Frivole at Van Cleef & Arpels. Buccellati, acquired in September 2019, was particularly favoured in Asia Pacific and Japan, the company said. 

Group sales across all businesses and channels rose 63 per cent, with triple-digit growth recorded in the US, reaching sales levels close to Europe while other regions saw substantial double-digit growth.