Jewelry Maisons and Watchmakers
Jewelry is Richemont’s largest product segment, single-handedly contributing to over 40 percent of Richemont’s global revenue. The group’s flagship jewelry label is Cartier, which has a brand value of 12.4 billion U.S. dollars. Cartier is also one of the leading luxury watch brands with seven percent share in the market. Another Richemont brand, Vacheron Constantin, holds a market share of 2.2 percent, for comparison. Cartier, owned by Richemont, is often juxtaposed with Bulgari, owned by LVMH.Over the past decade, Richemont's watchmakers business has consistently maintained stable revenues, hovering around three billion euros. In 2021, with the pandemic and travel restrictions, sales revenue declined to 2.25 billion euros. However, as of 2023, the sales bounced back to 3.88 billion euros, marking a positive bump for this segment.
