International News
Robust Jewelry Sales Propel Richemont’s Full-Year Revenue
Iconic collections and strong global demand lift jewelry sales by 8%, offsetting a 13% drop in watch revenue.
Richemont reported a 4% rise in group sales to EUR 21.4 billion ($23.89 billion) for the fiscal year ended March 31, driven largely by strong performance in its jewelry segment. Jewelry sales grew 8% year over year, reaching EUR 15.33 billion ($17.11 billion), fueled by double-digit gains across all regions except Asia Pacific. Direct-to-client channels accounted for 84% of sales, and all major brands — Cartier, Van Cleef & Arpels, and Buccellati — posted strong results, particularly from their iconic collections. The acquisition of high-jewelry brand Vhernier also contributed positively.
Operating profit from the jewelry segment increased 4% to EUR 4.9 billion ($5.47 billion), reflecting continued investment in high-profile collections and global events.
Conversely, Richemont’s watch division faced significant challenges, with sales dropping 13% to EUR 3.28 billion ($3.66 billion). A steep 27% sales decline in Asia Pacific — which had been the segment’s largest market — was attributed to weak demand in China, Hong Kong, and Macau. This downturn overshadowed stronger performances in the Americas and Japan and flat results in Europe and the Middle East. Operating profit for the watch segment plummeted 69% to EUR 175 million ($195.4 million).
Overall, Richemont’s annual profit rose 17% to EUR 2.75 billion ($3.07 billion), up from EUR 2.36 billion ($2.63 billion) the previous year.
International News
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
During Q3, Business Closures Dropped To 116 Compared To 126 In The Prior Year’s Third Quarter, Driven By 88 General Operational Cessations, 28 Acquisitions Or Mergers, and Zero Bankruptcies.
The number of active US jewelry companies continued to shrink in the third quarter, but at a slower pace than a year ago, according to the latest data from the Jewelers Board of Trade (JBT).The US jewelry industry continued its structural consolidation through Q3, though the pace of business closures showed signs of stabilizing compared to the previous year. Data from the Jewelers Board of Trade (JBT) reflects ongoing consolidation across retail, wholesale, and manufacturing, coupled with heightened credit volatility.
Key Data & Metrics
Nationwide, the active business footprint stands at 21,831 companies, reflecting a 1.4% year-over-year decline. During Q3, business closures dropped to 116 compared to 126 in the prior year’s third quarter, driven by 88 general operational cessations, 28 acquisitions or mergers, and zero bankruptcies. Meanwhile, new market entrants also slowed, with 67 new business openings recorded in Q3 down from 89 during the same period last year.
Sector-by-Sector Breakdown
| Sector | Active Count | YoY Change | Impact Summary |
| Retailers | 16,564 | -1.5% | Makes up the majority of the sector; experienced the largest net store count reduction. |
| Manufacturers | 2,061 | -1.7% | Steepest percentage decline among all segments. |
| Wholesalers | 3,206 | -0.9% | Relatively stable, holding the mildest contraction rate. |
Credit & Financial Health Trends
The JBT report highlights dynamic shifts in creditworthiness across US and Canadian businesses, signaling bifurcated financial health:
- Credit Downgrades: Jumped sharply to 1,655 (up from 620 in Q3 of the prior year).
- Credit Upgrades: Rose significantly to 1,480 (up from 551 in Q3 of the prior year).
While net business closures are tapering off, high numbers of simultaneous upgrades and downgrades point to a split market where resilient operators are strengthening their positions while vulnerable businesses face tighter financial pressures.
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
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