{
  "id": 20055417,
  "title": "Cartier and Van Cleef & Arpels help Richemont buck the luxury downturn",
  "url": "https://urgent.news/2026/11/14/cartier-and-van-cleef-arpels-help-richemont-buck-the-luxury-downturn",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-14T21:24:57.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/obsessions/richemont-cartier-van-cleef-arpels-luxury-downturn-6552176"
  },
  "original_language": "en",
  "account": "Swiss luxury group Richemont reported a 39% increase in net profit to €2.5 billion in the six months to September, surpassing market expectations. Strong demand for jewelry and a rebound in watch sales drove the growth, helping the company buck the luxury downturn. Cartier and Van Cleef & Arpels, part of Richemont, contributed to the positive trend with sales rising 19% organically to €9.1 billion. The results highlight how Richemont, alongside luxury brands like Burberry, has outperformed in a sector weakened by weaker Chinese demand, Middle East instability, and reduced spending by aspiration shoppers. Jewelry has remained resilient as wealthy consumers continue to invest in high-end pieces despite a decline in luxury handbag and fashion demand. Richemont's chair, Johann Rupert, described the overall trend for jewelry brands as \"very positive.\" Analysts at RBC and Citi praised the results as \"reassuring\" and \"solid,\" respectively, but noted that jewelry sales growth in the second quarter was slightly below expectations. Shares of Richemont dropped 7% in early trading on Friday. The company's specialist watchmakers, including Vacheron Constantin and Jaeger-LeCoultre, also showed recovery, with watch sales up 12% organically. Japan led market performance with a 23% increase in sales, followed by the Americas (19%) and Europe (15%). However, China's demand remained weak, while sales in the Middle East and Africa fell 7% due to the regional conflict's impact on tourist spending. Richemont delayed its results announcement due to a Microsoft outage affecting global businesses.",
  "summary": "The Swiss luxury group reported stronger-than-expected profits as its jewellery maisons continued to grow and its specialist watchmakers showed signs of recovery.",
  "key_points": [
    "Richemont's net profit increased 39% to €2.5 billion",
    "Cartier and Van Cleef & Arpels contributed 19% sales growth",
    "Jewelry sales resilient amid luxury downturn"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}