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Richemont Outperforms Forecasts as Jewellery Division Drives Growth

Strong demand for Cartier and Van Cleef & Arpels boosts Richemont’s quarterly sales, offsetting weakness in watch segment.

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Richemont, the Swiss luxury group behind Cartier and Van Cleef & Arpels, exceeded market expectations with a 7% rise in quarterly sales, driven by continued strength in its jewellery division. As global demand for high-end fashion softens, affluent consumers are still investing in fine jewellery—helping Richemont outperform many of its luxury peers.

For the fourth quarter ending in March, jewellery sales surged 11% year-on-year, more than compensating for an 11% decline in the group’s watch division, which has been affected by reduced luxury spending in China amid ongoing economic uncertainty and a slowing property market.

Overall, Richemont reported sales of €5.17 billion ($5.80 billion) for the quarter, a 7% increase in constant currency terms, surpassing the 6% rise forecast in a Visible Alpha consensus cited by HSBC.

According to JPMorgan analysts, Richemont’s strong jewellery performance highlights a strategic shift toward “the higher quality, more profitable and less cyclical part of the business.” This repositioning has helped the company remain resilient during a broader luxury sector slowdown.

Shares of Richemont rose 5% in early trading on Friday in response to the results.

Jewellery now represents the lion’s share of Richemont’s business, accounting for 54% of total sales—up from 36% in 2019—signaling the group’s successful pivot toward this high-margin category. “Richemont continued to gain significant market share in jewellery,” noted Jean-Philippe Bertschy, analyst at Vontobel, who praised the division’s “spectacular growth and profitability,” particularly when compared with luxury rival LVMH, owner of Bulgari and Tiffany & Co.

Still, analysts caution that Richemont is not immune to the global volatility affecting luxury demand, though its core clientele and focus on fine jewellery position it more defensively than brands reliant on fashion sales.

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DiamondBuzz

De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India

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De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.

The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.

We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance)  to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Kirit bhansali

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.

By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”

The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:

  • Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
  • Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
  • Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
  • Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.

As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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