FinancialsJan 20, 2022
Signet Raises Guidance After Strong Holiday SalesFinancialsJan 28, 2022
LVMH’s 2021 Jewelry, Watch Sales Double
Recently acquired Tiffany & Co. put on a "record performance" in its first year with the luxury conglomerate.
Tiffany & Co. introduced its first men’s engagement ring, “The Charles Tiffany Setting,” last spring. The LVMH-owned brand performed well in its first year with the company.
Paris—LVMH’s jewelry and watch sales surged in fiscal 2021 following its acquisition of Tiffany & Co. earlier that year.
The luxury conglomerate’s jewelry sales more than doubled in both its fourth-quarter and full-year results.
Quarterly revenue in the watches and jewelry segment was up 157 percent year-over-year to €2.8 billion ($3.1 billion) and up 145 percent compared with pre-pandemic 2019 levels.
For the full year, revenue in this category totaled nearly €9 billion ($10 billion), up 167 percent year-over-year and up 103 percent compared to 2019.
Overall revenue for the fourth quarter totaled €20 billion ($22.3 billion), up 40 percent year-over-year, and up 31 percent compared with 2019.
For the full year, revenue totaled €64.2 billion ($71.5 billion), up 44 percent year-over-year and up 20 percent when compared with 2019.
LVMH's acquisition of Tiffany & Co. closed in January 2021, making this the first year the jeweler's sales are included in LVMH's overall sales.
The American jewelry brand put on a “record performance” in terms of revenue, profits, and cash flow, said LVMH, and captured customer attention via its high-profile collaborations.
Perhaps the best example of that is power couple Beyoncé and Jay-Z servings as the faces of “About Love,” the jeweler’s new advertising campaign.
Tiffany’s high-end jewelry sales reached an all-time high, due in part to the success of its annual jewelry catalog, the Blue Book.
There was a growing interest in its Knot collection and continued development in its iconic Tiffany T and HardWear lines, said LVMH. Its relaunch of designs by Jean Schlumberger also did well.
During a results presentation Thursday, CEO Bernard Arnault, who called Tiffany’s integration “the event of the year,” noted the brand performed exceedingly well even though its flagship New York store, a strong revenue driver, was still closed for renovations. The store is expected to reopen at the end of 2022.
Related stories will be right here …
The luxury conglomerate’s jewelry sales more than doubled in both its fourth-quarter and full-year results.
Quarterly revenue in the watches and jewelry segment was up 157 percent year-over-year to €2.8 billion ($3.1 billion) and up 145 percent compared with pre-pandemic 2019 levels.
For the full year, revenue in this category totaled nearly €9 billion ($10 billion), up 167 percent year-over-year and up 103 percent compared to 2019.
Overall revenue for the fourth quarter totaled €20 billion ($22.3 billion), up 40 percent year-over-year, and up 31 percent compared with 2019.
For the full year, revenue totaled €64.2 billion ($71.5 billion), up 44 percent year-over-year and up 20 percent when compared with 2019.
LVMH's acquisition of Tiffany & Co. closed in January 2021, making this the first year the jeweler's sales are included in LVMH's overall sales.
The American jewelry brand put on a “record performance” in terms of revenue, profits, and cash flow, said LVMH, and captured customer attention via its high-profile collaborations.
Perhaps the best example of that is power couple Beyoncé and Jay-Z servings as the faces of “About Love,” the jeweler’s new advertising campaign.
Tiffany’s high-end jewelry sales reached an all-time high, due in part to the success of its annual jewelry catalog, the Blue Book.
There was a growing interest in its Knot collection and continued development in its iconic Tiffany T and HardWear lines, said LVMH. Its relaunch of designs by Jean Schlumberger also did well.
During a results presentation Thursday, CEO Bernard Arnault, who called Tiffany’s integration “the event of the year,” noted the brand performed exceedingly well even though its flagship New York store, a strong revenue driver, was still closed for renovations. The store is expected to reopen at the end of 2022.
Bulgari put on a “good” performance, said LVMH, particularly in its own stores.
“Bulgari seeks to concentrate now, as Tiffany is doing, on its jewelry sales in its own stores,” said Arnault.
Its Bzero1, Serpenti, and Diva lines did well, as did its high jewelry line, Magnifica. Its Octo Finissimo watch won the coveted Aiguille d’Or grand prize.
Chaumet, meanwhile, performed especially well in Japan, said Arnault.
The brand has had a busy year, launching a new diamond cut called the Taille Impératrice, celebrating its long-standing history through a “Joséphine and Napoléon” exhibition at its Place Vendôme store in Paris, and introducing “Torsade,” its new high jewelry collection.
TAG Heuer also had a good year, signing Ryan Gosling as an ambassador and teaming up with Porsche on a collection.
Arnault wore a TAG Heuer Porsche Carerra on his wrist during the presentation, adding the watch is “so successful that it’s difficult to find.”
The brand also launched a limited-edition Super Mario version of its smartwatch to appeal to gamers.
Hublot collaborated with famed Japanese artist Takashi Murakami on a collection. The brand performed especially well in the U.S. and China, said LVMH.
It signed tennis star Novak Djokvoic, who made headlines for attempting to attend the Australian Open while unvaccinated against COVID-19, as its ambassador earlier this year.
Speaking about Fred, the jewelry brand “is rebounding with a great team,” said Arnault. The brand has continued its growth, finding success with its Pretty Woman collection.
Zenith’s new products also have performed well, he said. Its new Zenith Chronomaster Sport won the 2021 “Best Chronograph” award at the Grand Prix d’Horlogerie de Genève.
Arnault also addressed the metaverse, an area in which Kering-owned Gucci and Balenciaga have joined other luxury brands, but he noted NFTs were not LVMH’s focus at the moment.
He suggested others take a cautious approach to the prospect, drawing a connection to the dot-com bubble.
“At this stage, we are very much in the real world selling real products,” he said. “We are not interested in selling virtual sneakers for €10. We’re not into that.”
LVMH did not provide fiscal guidance for 2022 but said it remains confident that its current growth will continue.
More on Financials
The Latest
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the HolidaysCo-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into JewelryAlong with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
Weekly QuizDec 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat EscapeThe man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
SourcingDec 19, 2024
The Second-Largest Diamond Ever Found Now Has a Name The 2,488-carat diamond recovered from a mine in Botswana has been dubbed “Motswedi” while its 1,094-carat sibling is “Seriti.”
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
SourcingDec 19, 2024
Gemfields Reports Record Ruby Auction Results Despite Challenges at SourceThe average price per carat hit a record high for the miner, which said it remains unaffected by the conflict in Mozambique.
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’sThe nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co. More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video CampaignThe videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to RetireFeldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry ExcellenceThe luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’sThe nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
CrimeDec 17, 2024
‘Black Bin Crew’ Robbers Get 14-16 Years in Prison The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
TrendsDec 16, 2024
Marion Fasel’s New Book Delves Into the History of Engagement Rings“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
WatchesDec 16, 2024
Take a Look Inside the New Rolex Boutique on Rodeo DriveGearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
GradingDec 16, 2024
GCAL By Sarine Expands 8X to 2 More Fancy Shapes The diamond cut grade is now available for marquise- and pear-shaped diamonds.
SourcingDec 16, 2024
Diamonds Do Good Announces 2025 Award RecipientsDDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement RingEstimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
AuctionsDec 12, 2024
Tom Brady’s Watches Top $4M at Sotheby’s AuctionThe highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
SourcingDec 12, 2024
Grizzly Emerald Auction Garners $22.4MRecent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
MajorsDec 12, 2024
Mark Henry Appoints New Director of SalesCarrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
