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Cartier may raise prices 3-5%, CEO says
Cyrille Vigneron told Bloomberg the brand is considering a price hike in part to cover the higher costs of diamonds, platinum, and gold.
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Cyrille Vigneron told Bloomberg the brand is considering a price hike in part to cover the higher costs of diamonds, platinum, and gold.
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Chopard has become the latest retailer to boycott diamonds originating from sanctioned Russian companies, citing its policy on responsible sourcing.
Tiffany & Co. has become the latest jeweler to nix the use of Russian-origin diamonds in any of its products following US government sanctions.
Signet Jewelers now accounts for 9.3% of the U.S. jewelry market, up from the 6% it claimed in 2021, CEO Gina Drosos said on an earnings call Thursday, following the release of its fourth-quarter financial results.
The news preceded announcement of the company’s full-year results, which were strong.
Swiss watch exports rose strongly in January as US demand supported the sector amid a downturn in orders from China.