Tiffany & Co., Bulgari Drive Jewelry Growth for LVMH
LVMH’s jewelry and watch sales grew 25 percent in Q3, with Tiffany’s new “Lock” collection off to a “solid start” in the U.S.

Here are five important takeaways from the luxury titan’s most recent earnings report.
It was another solid quarter for LVMH.
LVMH put on a strong performance in the third quarter, reporting revenue growth of 27 percent year-over-year to €19.76 billion ($19.25 billion).
For the first nine months of the fiscal year, revenue was up 28 percent year-over-year to €56.49 billion ($55.05 billion).
That double-digit growth carried across every business category, with Tiffany & Co. and Bulgari standing out in its jewelry and watches category.
Sephora, part of LVMH’s selective retailing portfolio, recovered as store traffic increased, but its duty-free stores were still negatively impacted by health restrictions in key areas, including lockdowns in Hong Kong and Macao.
Jewelry and watch sales climbed double-digits.
Quarterly revenue in the watches and jewelry segment climbed 25 percent year-over-year to €2.67 billion ($2.6 billion).
For the first nine months, revenue in the category was up 23 percent to €7.58 billion ($7.38 billion).
LVMH’s jewelry portfolio includes Bulgari, Chaumet, Repossi, and Fred, as well as the recently acquired Tiffany & Co., which has boosted the category in the last few quarters.
Bulgari’s growth was driven by jewelry but the brand’s watches also performed well, said LVMH.
Bulgari held an exhibition in Shanghai, China, of its high jewelry and watch collection “Eden: The Garden of Wonders.”
Its “Bzero1” collection introduced more diamonds to its jewels.
The brand also announced that its manufacturing facility in Valenza, Italy, will be expanded alongside a high jewelry lab in Rome.
Bulgari is the subject of a new documentary on Amazon Prime called “Inside the Dream,” which follows Bulgari Creative Director Lucia Silvestri through the stages of high jewelry creation.
Chaumet unveiled “Ondeset Merveilles,” its first high jewelry collection entirely inspired by the sea.
Its “Végétal” exhibition in Beaux-Arts of Paris showcased its jewels while highlighting the nature that inspires their designs.
As for LVMH’s watch brands, TAG Heuer introduced the new Connected Calibre E4-Porsche edition and named skater and surfer Sky Brown as its new ambassador.
Hublot was named the official timekeeper of the 2022 FIFA World Cup, its fourth time receiving the honor, while Zenith launched the Chronomaster Original Pink for Breast Cancer Awareness Month.
Fred introduced its new “Embrace Your Force” campaign and held an exhibition in Palais de Tokyo in Paris.
Tiffany & Co.’s new “Lock” collection is a hit in North America.
Tiffany & Co., a newcomer to the LVMH jewelry family, held its own with a strong performance in the third quarter.
“Tiffany & Co. was driven by strong momentum in the United States,” said the company, while also noting that its “Vision & Virtuosity” exhibition at the Saatchi Gallery in London, celebrating the 185th anniversary of the house, was a “great success.”
Tiffany’s new Lock collection debuted in August, featuring eight unisex bangle styles with a clever clasp.
“The new Lock collection with its innovative clasp is off to a solid start in North America,” said Christopher Hollis, LVMH’s director of financial communications, during an earnings call Tuesday afternoon.
Its “Knot” collection is rolling out internationally while its high jewelry collection “Blue Book” enjoyed a successful launch in Asia.
The brand welcomed back Beyoncé as the face of its new advertising campaign.
Tiffany has also been named the official designer of the League of Legends World Championship Trophy, adding an esports (video game) competition to the long list of trophies the brand designs.
LVMH’s revenue growth slowed in the U.S. but is recovering in Asia.
U.S. organic revenue was up 11 percent year-over-year in the third quarter, a significant decline from the 22 percent and 26 percent increases in the first and second quarters, respectively.
For the first nine months, revenue in the region was up 19 percent year-over-year.
The U.S. remains LVMH’s second largest market in terms of revenue, just behind Asia. It accounted for 26 percent of total revenue in the first nine months, up from 25 percent in the previous period.
“Europe, the United States and Japan, up sharply since the start of the year, benefitted from the solid demand of local customers and the recovery in international travel,” said LVMH.
Revenue growth in Europe was up 36 percent in the quarter and 43 percent in the first nine months.
In Japan, revenue climbed 30 percent in the quarter and 32 percent in the first nine months.
The Asia region recovered in the third quarter, up 6 percent, after health restrictions in Q2 sent revenue down 8 percent. For the first nine months, revenue in Asia inched up 2 percent.
LVMH has a confident outlook for the rest of the fiscal year.
The company did not provide specific financial guidance for the year ahead but communicated a positive outlook in spite of ongoing economic headwinds.
“LVMH is confident in the continuation of current growth and will maintain [the] objective of further strengthening its global leadership while staying vigilant in [the] context of macro and geopolitical uncertainties,” it said.
The company said it remains well-positioned to keep gaining market share and will see continued momentum in its online revenue and omnichannel developments.
Its focus going forward will be offering “innovative and high-quality” products and continued selective investments, including expanding its store network.
The Latest

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.


The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

The organization has also announced this year’s slate of judges.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

The winning designs captured the “Radiance” theme.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.

The heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.

The 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week.

The Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.

The historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.