Richemont’s jewellery business surpassed a significant sales threshold for the year ending March 31, 2022, with luxury jewellers benefitting from relaxed social restrictions and resumption of in-person events.

The group’s three jewellery maisons, Buccellati, Cartier and Van Cleef & Arpels, achieved a combined 49 per cent increase in sales compared to the prior year. All iconic jewellery collections performed exceptionally – Opera Tulle and Macri at Buccellati; Love, Panthère, Santos and Ballon Bleu at Cartier; and Alhambra and Perlée at Van Cleef & Arpels. 

“This outstanding performance across all maisons, price points, regions and distribution channels resulted in the jewellery maisons crossing the €11 billion (around US$11.74 billion) sales threshold for the first time,” revealed Richemont. 

Growth was strongest in directly operated jewellery stores, which contributed over three quarters of sales. Cartier and Van Cleef & Arpels increased their market leadership while Buccellati further expanded its international footprint with nine new directly operated shops. “To support future growth for the jewellery maisons, investments accelerated into manufacturing capabilities as well as into significant boutique projects, which included major renovations, such as the Milan Montenapoleone and New York Fifth Avenue stores for Cartier, as well as store openings including the Buccellati flagship store in Tokyo Ginza and a Van Cleef & Arpels store in Highland Park Village in Dallas,” noted Richemont.

Group sales reached €19.18 billion (around US$20.45 billion) during the period in review, up 46 per cent from 2021.