The “strong momentum” continued at luxury conglomerate Richemont, SA, reporting sales up 11% in the last quarter of 2025. Leading the charge with 14% sales growth was its Jewelry division, which includes the legendary Maisons Van Cleef & Arpels, Cartier, Buccellati, and Vhernier, despite facing a strong year-over-year comparison.
As we have written before, luxury consumer shopping revealed a shift from fashion items toward jewelry in late 2025, in part due to the recognized intrinsic value of precious metals and jewels, as compared to the leather and lace of bags and clothing. Additionally, the ever-increasing prices of luxury handbags caused many aficionados to question and/or pause purchasing, even if temporarily. Jewelry, for many, was the gift of the holiday season. Not surprisingly, then, coveted pieces by Van Cleef and Cartier were often sold out and difficult to source. Nearly three-quarters of jewelry sales occurred at retail establishments.
Read: Why Cartier and Van Cleef & Arpels Are Selling Out Before the Holidays Even Started
Image courtesy: @damselincartier
Geographically, the Americas, Japan, and the Middle East & Africa all reported double-digit growth (at constant exchange rates) of 14%, 17%, and 20%, respectively. Asia Pacific and Europe each saw single-digit increases. Richemont credited “supportive tourist spending, particularly from North American and Middle Eastern clienteles” for the 8% sales growth in Europe.
Beyond Richemont’s jewelry sector, which represents approximately two-thirds of the company’s sales, Special Watchmakers also saw 7% growth overall. Fashion & Accessories saw a 3% increase in sales, according to the company.
Image courtesy: Cartier
Whether jewelry will continue to sparkle as prices rise — due to cost and increased demand —remains to be seen. Last year, for example, Cartier hit some of its most popular styles with two increases in the U.S., while Van Cleef effected one hike. Thus far, these hikes do not seem to have slowed demand or purchasing. But it is always an open question as to how much leeway brands have to raise prices without affecting sales. Time will tell.
Image courtesy: @manyshadesofchic
Will further price increases affect your jewelry purchasing decisions? Let us know.
Updated: January 15th, 2026
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