MajorsJul 21, 2021
Tiffany, Costco Settle Long-Standing LawsuitFinancialsJul 27, 2021
LVMH’s H1 Sales Soar as Tiffany Settles In
The luxury titan’s watch and jewelry sales more than tripled in the first half of the year.
A Tiffany HardWear double link pendant in 18-karat rose gold with pavé diamonds ($8,900). The now LVMH-owned retailer contributed to a rise in sales in the first half of the year.
Paris—LVMH posted strong results for the first half of its fiscal year, particularly in its watches and jewelry segment as it integrates newly acquired Tiffany & Co.
In the first half of the year, company revenue totaled €28.67 billion ($33.85 billion), up 53 percent year-over-year on a comparable basis.
Revenue also exceeded pre-pandemic levels, up 11 percent compared with 2019.
In the second quarter, organic revenue was up 14 percent compared with the first quarter.
First-half revenue in the watches and jewelry segment more than tripled, up 205 percent to €4.02 billion ($4.75 billion).
Sales are up 5 percent organically compared with pre-pandemic levels, though this excludes Tiffany.
“The first half saw the integration for the first time of iconic jewelry maison Tiffany, which has benefited from the new team’s focus on its iconic products,” LVMH said, noting the jeweler has performed “extremely well.”
In an interview with CNBC last month, Chief Financial Officer Jean Jacques Guiony described the incorporation of the retailer as “a long-term job.”
“The integration of Tiffany is not a six-month job,” Guiony said. “It’s something that will last for a number of quarters and the objective is not just to integrate. It is to develop the business up to the level that we think the quality of the brand could generate.”
Tiffany recorded strong sales in the United States and Asia and launched its first engagement ring for men, the “Charles Tiffany.”
It also presented its high-end jewelry collection in China and welcomed K-pop superstar Rosé, of the group Blackpink, as its new global ambassador, modeling its Tiffany Hardwear line.
Looking at LVMH’s other brands, Bulgari posted strong growth in jewelry, especially within its network of stores.
The “Bzero1 Rock” line, released in 2020, found success alongside its new line, “Serpenti Viper,” and “Serpenti Seduttori” watches. Its “Magnifica” high-end jewelry collection launched in June to an “excellent reception.”
Chaumet debuted its new “Joséphine et Napoléon” exhibition at its recently restored address at 12 Place Vendôme in Paris while Fred successfully launched its “Pretty Woman” collection.
In the watch category, TAG Heuer inked a partnership deal with Porsche and launched the Carrera Porsche chronograph to celebrate.
Hublot, the official watch for the UEFA Euro 2020 soccer tournament, benefited from high visibility during the second quarter. It also debuted its new connected Big Bang UEFA Euro 2020TM watch.
Zenith introduced its new Chronomaster Sport watch.
Related stories will be right here …
In the first half of the year, company revenue totaled €28.67 billion ($33.85 billion), up 53 percent year-over-year on a comparable basis.
Revenue also exceeded pre-pandemic levels, up 11 percent compared with 2019.
In the second quarter, organic revenue was up 14 percent compared with the first quarter.
First-half revenue in the watches and jewelry segment more than tripled, up 205 percent to €4.02 billion ($4.75 billion).
Sales are up 5 percent organically compared with pre-pandemic levels, though this excludes Tiffany.
“The first half saw the integration for the first time of iconic jewelry maison Tiffany, which has benefited from the new team’s focus on its iconic products,” LVMH said, noting the jeweler has performed “extremely well.”
In an interview with CNBC last month, Chief Financial Officer Jean Jacques Guiony described the incorporation of the retailer as “a long-term job.”
“The integration of Tiffany is not a six-month job,” Guiony said. “It’s something that will last for a number of quarters and the objective is not just to integrate. It is to develop the business up to the level that we think the quality of the brand could generate.”
Tiffany recorded strong sales in the United States and Asia and launched its first engagement ring for men, the “Charles Tiffany.”
It also presented its high-end jewelry collection in China and welcomed K-pop superstar Rosé, of the group Blackpink, as its new global ambassador, modeling its Tiffany Hardwear line.
Looking at LVMH’s other brands, Bulgari posted strong growth in jewelry, especially within its network of stores.
The “Bzero1 Rock” line, released in 2020, found success alongside its new line, “Serpenti Viper,” and “Serpenti Seduttori” watches. Its “Magnifica” high-end jewelry collection launched in June to an “excellent reception.”
Chaumet debuted its new “Joséphine et Napoléon” exhibition at its recently restored address at 12 Place Vendôme in Paris while Fred successfully launched its “Pretty Woman” collection.
In the watch category, TAG Heuer inked a partnership deal with Porsche and launched the Carrera Porsche chronograph to celebrate.
Hublot, the official watch for the UEFA Euro 2020 soccer tournament, benefited from high visibility during the second quarter. It also debuted its new connected Big Bang UEFA Euro 2020TM watch.
Zenith introduced its new Chronomaster Sport watch.
Looking to the year ahead for watches and jewelry, LVMH expects to launch new digital initiatives.
Tiffany will launch a new collection of gold jewelry while Bulgari will add to its “Diva’s Dream” and Bzero1 lines and celebrate its renovated store on Place Vendôme.
By region, overall sales in the U.S. and Asia are “up sharply,” said LVMH, while Europe is seeing a gradual recovery.
Growth in direct sales to customers has been strong, said LVMH, both in-store and online, though travel retail is still hampered by a lack of international travel.
LVMH did not provide fiscal guidance for the year ahead, but, in a press release, CEO Bernard Arnault said: “Within the current context, as we emerge from the health crisis and see a recovery in the global economy, I believe that LVMH is in an excellent position to continue to grow and further strengthen our lead in the global luxury market in 2021.”
More on Financials
The Latest
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
