Financials

LVMH’s Q1 Jewelry, Watch Sales Up 24%

FinancialsApr 14, 2022

LVMH’s Q1 Jewelry, Watch Sales Up 24%

New addition Tiffany & Co. had an excellent start to the year, the luxury titan said.

2022_Tiffany ring.jpg
Tiffany & Co., an LVMH-owned brand, put on a strong performance in the luxury conglomerate’s first quarter.
Paris—LVMH started off its fiscal year on a high note, reporting strong double-digit revenue growth in its first quarter.

Here are five important takeaways from the luxury titan’s most recent earnings report.

It’s a strong start to the year for LVMH.

LVMH put on a strong performance in the first quarter, reporting revenue growth of 29 percent year-over-year to €18 billion ($19.6 billion).

That double-digit growth carried across every business category, except its wine and spirits division due to supply constraints.

LVMH did not share financial guidance for the year ahead but said it remains “both vigilant and confident” in light of the pandemic and geopolitical crises.

“LVMH relies on the talent and motivation of its teams, the diversity of its businesses, and the geographical balance of its revenues to further strengthen its global leadership position in luxury goods in 2022,” said the company.

Jewelry and watch sales hold strong post-Tiffany acquisition.

Revenue in the watches and jewelry segment climbed 24 percent year-over-year to €2.34 billion ($2.55 billion).

Its jewelry brand portfolio includes Bulgari, Chaumet, Repossi, and Fred, as well as the recently acquired Tiffany & Co.

The category has received a strong boost in recent quarters following LVMH’s acquisition of Tiffany, which closed in January 2021.

The storied brand had an “excellent start to the year,” said LVMH, and posted especially strong growth in the United States.

Its “Knot” collection, which features a knot design on bangles, earrings, rings, pendants, and a choker, saw particular success.

Bulgari’s growth was driven by its high jewelry and watch collections, as well as its Serpenti line, said LVMH.

Additionally, Chaumet and Fred put on an “excellent performance.”

Chaumet’s “Joséphine” and “Liens” lines did well while Fred opened a new flagship in Singapore.

The Tiffany & Co. brand is strong.

Tiffany is a top brand among LVMH’s jewelry houses, receiving special attention, as did Bulgari, in its earnings presentation.

The “Knot” collection was a strong performer, alongside Tiffany’s high jewelry offerings.

Its relaunch of designs by famed jeweler Jean Schlumberger also did well.

The company launched a new campaign for its HardWear line, featuring K-pop superstar Rosé.

Its celebrity ambassadors include Anya Taylor-Joy, Tracee Ellis Ross, and Eileen Gu.

 Related stories will be right here … 

Recently, the jeweler jokingly announced it would be getting into the cryptocurrency game, launching TiffCoin as an April Fool’s joke.

It later released 499 physical 18-karat gold Tiffcoins, priced at $9,999, individually numbered and engraved with a Tiffany “T.”

The brand joined Signet Jewelers and Brilliant Earth in refusing to purchase Russian diamonds in light of the Russian invasion of Ukraine.

There’s a lot of newness from its watch brands.

LVMH’s watch brand portfolio includes TAG Heuer, Hublot, and Zenith.

Its watch brands “continued to see strong momentum,” said LVMH, and unveiled several new timepieces at the recent Watches & Wonders show in Geneva.

TAG Heuer introduced five new watches at the trade show, including its first solar-powered watch.

The brand also debuted the Carrera Plasma, which features lab-grown diamonds, including an entirely diamond crown at 3 o’clock.

Hublot launched The Big Bang Unico Ledger in partnership with cryptocurrency company Ledger, and Zenith introduced the new Chronomaster Open and Chronomaster Sport models.

Bulgari also recently released the new Octo Finissimo Ultra watch.

The U.S. region posted double-digit growth.

The United States is LVMH’s second-largest market in terms of revenue, just behind Asia.

The U.S. accounted for 24 percent of revenue, up from 23 percent in the previous first quarter.

U.S. organic revenue was up 26 percent, compared with 23 percent growth last year.

Japan and Europe also posted double-digit organic revenue growth.

Asia, excluding Japan, reported revenue growth of 8 percent, a significant difference compared with 86 percent growth in the previous first quarter.

“Asia continued to grow over the quarter despite the impact of a tightening of health restrictions in China in March,” said LVMH.
Lenore Fedowis the senior editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Christies regent kashmir sapphire and regal Burmese ruby
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat Ruby

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

Diamond earrings held in gloved hand
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft Recovered

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

Emmanuel Raheb CEO of Smart Age Solutions
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More Jewelry

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

Pomellato Nudo High Jewelry Campaign
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic Design

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

Weekly QuizMar 21, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Jamie Singleton, Bill Brace, Rebecca Wooters, Bill Luth
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid Turnaround

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

Sothebys Watchcheck
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair Services

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Branko Gems
SourcingMar 21, 2025
BrankoGems To Hold Conference in Montana

The event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.

Til Death Ring by Marrow Fine
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ Ring

After the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.

Korman Fine Jewelry Austin store
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size

The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.

JCK Rocks 2025
Events & AwardsMar 20, 2025
JCK Rocks to Feature Snoop Dogg, Jason Derulo

The rapper and singer-songwriter will perform at Tao Beach on June 8.

Conversations with Chris Ploof YouTube Video Series
TechnologyMar 20, 2025
Chris Ploof, Severine Ferrari Launch YouTube Video Series

“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.

Limelight Lab Grown Diamond store in India
Lab-GrownMar 20, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond Sector

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Lab-grown diamond engagement ring
MajorsMar 19, 2025
Signet Jewelers to Close Stores, Cut Staff Amid Declining Sales

The moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.

Zoë Kravitz in Rush Hour Collection
CollectionsMar 19, 2025
Jessica McCormack’s New Collection Elevates Office Wear

The “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.

Gallet Flying Officer watch
WatchesMar 19, 2025
Breitling Acquires Another Watch Brand From the 1800s

Breitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.

Mediterranean Blue diamond
AuctionsMar 19, 2025
10-Carat Fancy Vivid Blue Diamond Expected to Sell for $20M

Dubbed the “Mediterranean Blue,” this “remarkably rare” diamond will be part of Sotheby’s May jewelry auction in Geneva.

American Gem Society Jewelry Evaluation Advisor logo
MajorsMar 19, 2025
AGS Adds New Program, Relaunches CSA

The American Gem Society now offers a Jewelry Evaluation Advisor designation as well as an updated Certified Sales Associate designation.

Beck pieces created for residency at Trove
CollectionsMar 18, 2025
Beck Debuts New Collection as Trove’s Latest Designer-in-Residence

Rebecca Zeijdel-Paz created more than 75 new pieces for the residency, which will be on display at Trove’s store in New York through April.

National Jeweler columnist Peter Smith
ColumnistsMar 18, 2025
Peter Smith: The Importance of Culture in Hiring

Smith explores why a qualified candidate might still not be right for the job.

Finks Jewelers Emmy award
Events & AwardsMar 18, 2025
Fink’s Jewelers Is Now a Regional Emmy Winner

The company and its marketing agency, Loudr, were recognized for the “Make You Dance” marketing campaign.

Citizen premiere
WatchesMar 18, 2025
Citizen Announces New Modern Luxury Watch Category

The “Series8” and “Attesa” collections will be grouped under Citizen Premier.

Borsheims Assistant IT Manager David Fager
MajorsMar 18, 2025
Borsheims Names New Assistant IT Manager

David Fager, a former systems engineer at the retailer, was promoted to the role.

The 2025 Gem Awards
Events & AwardsMar 17, 2025
Gem Awards Honor All Facets of the Industry

From retailers to designers and the media, the fine jewelry industry recognized one another’s work and looked to the future.

Eleanor H. Yeh GIA jewelry design
Events & AwardsMar 17, 2025
GIA Names Winner of Emerging Jewelry Design Talent Award

Eleanor H. Yeh is the recipient of the eighth annual Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.

 Joseph Cavalcante Tous managing director
MajorsMar 17, 2025
Tous Names U.S. Managing Director, VP

Joseph Cavalcante takes on the dual role as the Spanish jewelry brand looks to expand further into the U.S. market.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy