The global elite aren’t done flexing — they're just getting picky. As middle-class luxury spending slows down, the super rich are doubling down on high-end jewelry. But don’t get it twisted — not all pearls are created equal 🐚💅.
💎 Richemont — the powerhouse behind Cartier, Van Cleef & Arpels, and Buccellati — just reported better-than-expected sales, thanks to an 11% surge in its ultra-luxe Jewellery Maisons division. Jewelry is officially the brand’s golden goose, growing 8% over the full year.
📉 Meanwhile, other luxury titans like LVMH (Tiffany & Co., Bvlgari) and Kering are sweating — with sluggish watch and jewelry sales across the board.
🗣️ “Richemont’s jewelry brands are really at the top of consumer desirability,” said Luca Solca of Bernstein. “Despite LVMH’s best efforts, the others are playing catch-up.”
📉 Watches, on the other hand? Kinda out of style. Richemont’s Specialist Watchmakers division (think Piaget and Roger Dubuis) saw sales plunge 13%, especially in China. People bought too many watches post-COVID — and now, demand is in detox mode ⌚🐢.
But why jewelry?
💡 According to experts:
- Jewelry is bought more frequently than watches
- It’s become cheaper compared to handbags (yes, for real 😳)
- And it’s a serious status symbol again
📈 Richemont is even gaining market share from both branded and non-branded rivals. But it’s not all smooth sailing — looming threats include:
- The strong Swiss franc vs. USD 🇨🇭💲
- Sky-high gold prices 🪙
- Global trade tariffs 🧾🚫
🎯 Bottom Line: If you're a luxury brand, you'd better shine brighter than a supernova to win the rich. Richemont figured it out — now the rest of the industry is scrambling to catch up. 💎🔥