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
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
SourcingOct 01, 2025
Gemfields’ H1 Revenue Falls 47%Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
MajorsSep 29, 2025
Overnight Releases New Bridal CatalogThe “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard SaysHoliday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky RingThe red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-InA trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.
SourcingSep 25, 2025
2 African Countries Aim to Take Stake in De Beers Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond ProductionThe manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.
