All that glitters may be gold and diamonds for the luxury goods industry, as it tries to recover from a tough financial period. Amidst a challenging forecast for the industry, Cartier and Van Cleef & Arpels’ (VCA) parent company, Richemont, S.A., reported a 14% increase in group sales (at constant exchange rates) for its financial quarter ending September 30, 2025.
Calling it “solid results with strong momentum,” the company credits strong demand for its jewelry business and a return to growth in Asia, including China. Overall sales are up 10% at current exchange rates (5% when factoring currency issues), to €10.6 billion.
Jewelry sales surged 17% this quarter compared to the same period last year, leading to a half-year gain of 14%. Richemont attributes the growth to increased demand across major geographic markets, despite headwinds from rising raw material costs, currency challenges, and, to some extent, US tariffs.
Branded jewelry—from the right brands—has seen momentum in attracting luxury buyers, some of whom reportedly are shifting purchases from handbags to glittering adornments. No doubt VCA and Cartier are among the favored brands and benefiting from this transition.
Read more here
It also suggests that the K-shaped economy—where wealthier individuals are thriving while others struggle—benefits companies that cater to high-end clientele. Hermès, known for its difficult-to-attain Birkin and Kelly bags, reported financial growth in Q3 last month. Luxury conglomerate LVMH—owner of 75 brands including Louis Vuitton and Dior—also reported an improved outlook, particularly in China.
Read:
Image courtesy: @classybubbly
Richemont’s Watches division, which, like the industry overall, has struggled in the last 18 months. However, Richemont sees signs of improvement, particularly in the Americas, where sales rose by double digits in each of the past two quarters. While China continues to experience soft demand, Richemont, like others in the luxury arena, sees positive signs emerging. For example, in Q2 2025, the rate of sales decline slowed.
The Fashion & Accessories line remains slightly down for the half-year but showed 6% growth in Q2. Richemont detailed strong results for its Alaia and Peter Millar labels, with Chloe showing momentum.
Image courtesy: @katsbling
Whether ‘encouraging signs’ are enough to boost the luxury goods industry remains to be seen. Yet, shoppers report being told they must wait for hot pieces from Cartier and VCA.
As the holiday season is here, will jewelry be the luxury gift of the season? Let us know your plans.
Image courtesy: @mrs_bcworld
Updated: December 11th, 2025
Comments