The U.S. jewelry market grew 5% in 2024 to $85.4 billion, but affluent consumers are pulling back on planned jewelry purchases this year.
Tag Archives: Richemont
Jewelry Market Splinters As True Luxury Richemont Rises And Accessible Signet Falls
Richemont delivered stunning holiday quarter performance with luxury jewelry sales up 14%, while Signet reported holiday accessible/mass-market jewelry sales down 2%.
Richemont Practically Gifted Yoox Net-A-Porter To Mytheresa
Richemont has come to an agreement for Mytheresa to acquire its online YNAP business, including Net-A-Porter, Mr Porter, Yoox and Outnet brands.
Aspirational Consumers Pull Back, Driving Down Luxury Leaders’ U.S. Sales
The leading global luxury brands showed topline gains for the first half of the year, despite a drop in sales in the U.S., where aspirational consumers are stretched thin and have cut back on indulgent purchases.In most recent reporting, all but Kering showed outstanding topline gains – LVMH was up 15% to $46.5 billion and […]
Farfetch Gets Closer To Being The ‘Amazon of Luxury’ Through Its Richemont-YNAP Deal
Farfetch and investors have been through a whirlwind recently. First, Farfecth announced an agreement to acquire 47.5% of Richemont’s YOOX Net-A-Porter (YNAP) online fashion group along with replatforming most of Richemont’s Maisons, including Cartier, Van Cleef & Arpels and Piaget, under Farfetch Platform Solution (FPS). Then a day later, it reported second-quarter earnings.It’s going to […]
