MajorsApr 08, 2022
Tiffany Runs With April Fool’s Joke, AgainFinancialsApr 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.
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.
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.
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.
Editors' Picks
Sponsored by
More on Financials
The Latest
CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a ZooThe pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.
MajorsApr 02, 2025
Neiman Marcus’ Dallas Flagship Will Remain Open, For NowParent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.
SourcingApr 02, 2025
Winston’s Collection of Natural Color Diamonds Now on Display in D.C. Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Policies & IssuesApr 02, 2025
Jewelers of America to Hold Webinar on TariffsThe virtual event will take place April 7 at 3 p.m.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsApr 02, 2025
Punchmark to Host Client WorkshopThe educational event will take place in Charlotte, North Carolina, this May.
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
