Heard on the Street: Europe’s top jewelry brand shows no sign of losing its luster
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.The French brand does more business in China than its American rival, which should help to maintain its edge in 2023Bernard Arnault has a net worth larger than that of Elon Musk and Jeff Bezos.
Photo: Nicholas Kamm/Agence France-Presse/Getty ImagesThe jewelry division of Swiss luxury goods company Richemont, which includes Van Cleef & Arpels and Buccellati as well as Cartier, grew sales by 27% for the three months through March compared with the same period of 2022. The company doesn’t disclose the finances of individual brands, but Cartier is known to be Richemont’s biggest.estimates its annual sales at around 10 billion euros, or $10.
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