FinancialsJan 22, 2024
Jewelry Was the Strongest Performer in Richemont’s Q3FinancialsJan 26, 2024
LVMH’s Jewelry, Watch Sales Up 3% in 2023
Highlights included the opening of Tiffany & Co.’s new flagship and record revenue for TAG Heuer.
LVMH-owned Tiffany & Co.’s revamped New York City flagship, known as “The Landmark,” reopened last spring. The luxury titan’s watch and jewelry brands saw sales increase 3 percent at actual exchange rates in 2023.
Paris—LVMH ended its fiscal year on a high note, posting strong revenue growth in its fourth quarter and for the full year.
The luxury titan saw revenue growth of 6 percent year-over-year at actual exchange rates in the fourth quarter totaling €23.95 billion ($25.97 billion).
For the full year, revenue totaled €86.15 billion ($93.4 billion), up 9 percent year-over-year.
Sales in the United States were up 8 percent in the fourth quarter and up 4 percent for the full year.
The U.S. is tied with Europe as LVMH’s second largest market in terms of revenue. It accounted for 25 percent of total revenue in 2023, down from 27 percent in 2022.
“Our performance in 2023 illustrates the exceptional appeal of our maisons and their ability to spark desire, despite a year affected by economic and geopolitical challenges,” CEO Bernard Arnault said in a statement.
LVMH reported organic revenue growth across all business groups in 2023, with the exception of wines and spirits.
Its watches and jewelry segment saw revenue slip 2 percent at actual exchange rates in the fourth quarter to €2.95 billion ($3.2 billion).
For the full year, revenue totaled €10.9 billion ($11.82 billion), up 3 percent year-over-year.
LVMH noted “robust growth” in jewelry and “powerful creative momentum” for its watch and jewelry brands, particularly Tiffany & Co., Bulgari, and TAG Heuer.
For Tiffany & Co., the reopening of its New York City flagship, dubbed “The Landmark,” was “exceptionally well received,” said LVMH.
The brand’s new “Lock” collection, which has continued its worldwide rollout, was a “huge success,” while its “Hardwear” line also was popular.
It introduced its new high jewelry collection,“Blue Book: Out of the Blue,” designed by Creative Director for Jewelry Nathalie Verdeille.
Bulgari also saw strong growth, driven by its high jewelry offerings, particularly the “Mediterranea” collection. Its new “Cabochon” collection also had a successful launch, LVMH said.
Its “Serpenti” line, which recently celebrated its 75th anniversary, did well, including in jewelry and women’s watches. Bulgari Serpenti watches won awards at the Geneva Watchmaking Grand Prix.
Chaumet introduced a new high jewelry line and hosted the exhibition “A Golden Age: 1965-1985,” at its 12 Place Vendôme location.
Fred opened its “Fred: Jewelry Designer Since 1936” exhibition in South Korea.
Related stories will be right here …
The luxury titan saw revenue growth of 6 percent year-over-year at actual exchange rates in the fourth quarter totaling €23.95 billion ($25.97 billion).
For the full year, revenue totaled €86.15 billion ($93.4 billion), up 9 percent year-over-year.
Sales in the United States were up 8 percent in the fourth quarter and up 4 percent for the full year.
The U.S. is tied with Europe as LVMH’s second largest market in terms of revenue. It accounted for 25 percent of total revenue in 2023, down from 27 percent in 2022.
“Our performance in 2023 illustrates the exceptional appeal of our maisons and their ability to spark desire, despite a year affected by economic and geopolitical challenges,” CEO Bernard Arnault said in a statement.
LVMH reported organic revenue growth across all business groups in 2023, with the exception of wines and spirits.
Its watches and jewelry segment saw revenue slip 2 percent at actual exchange rates in the fourth quarter to €2.95 billion ($3.2 billion).
For the full year, revenue totaled €10.9 billion ($11.82 billion), up 3 percent year-over-year.
LVMH noted “robust growth” in jewelry and “powerful creative momentum” for its watch and jewelry brands, particularly Tiffany & Co., Bulgari, and TAG Heuer.
For Tiffany & Co., the reopening of its New York City flagship, dubbed “The Landmark,” was “exceptionally well received,” said LVMH.
The brand’s new “Lock” collection, which has continued its worldwide rollout, was a “huge success,” while its “Hardwear” line also was popular.
It introduced its new high jewelry collection,“Blue Book: Out of the Blue,” designed by Creative Director for Jewelry Nathalie Verdeille.
Bulgari also saw strong growth, driven by its high jewelry offerings, particularly the “Mediterranea” collection. Its new “Cabochon” collection also had a successful launch, LVMH said.
Its “Serpenti” line, which recently celebrated its 75th anniversary, did well, including in jewelry and women’s watches. Bulgari Serpenti watches won awards at the Geneva Watchmaking Grand Prix.
Chaumet introduced a new high jewelry line and hosted the exhibition “A Golden Age: 1965-1985,” at its 12 Place Vendôme location.
Fred opened its “Fred: Jewelry Designer Since 1936” exhibition in South Korea.
As for its watch brands, TAG Heuer achieved record-breaking revenue as it celebrated the 60th anniversary of its “Carerra” collection. It also opened a new store on Fifth Avenue in New York City.
Hublot teamed up with artist Takashi Murakami on a collection of 13 unique watches connected to NFTs. The brand also served as the official timekeeper for the FIFA Women’s World Cup in Australia.
Zenith added new models to its “Defy” collection and expanded its “Pilot” line.
As for LVMH’s other segments, its fashion and leather goods division, which includes Louis Vuitton and Christian Dior, posted strong revenue growth, said the company.
The company also highlighted the performance of its fragrance and makeup brands, including an “exceptional performance” by Sephora.
Looking to the year ahead, LVMH did not provide fiscal guidance but said, “While the geopolitical and macroeconomic environment remains uncertain, LVMH is confident in its ability to continue to grow in 2024.”
Arnault, 74, is planning to nominate more of his children to the LVMH board, according to a New York Times report.
According to the Times, he will nominate his sons Alexandre Arnault, 31, executive vice president of product and communications at Tiffany & Co., and 29-year-old Frédéric Arnault, who recently was named CEO of LVMH Watches.
Their older siblings, Christian Dior CEO Delphine Arnault, 48, and LVMH executive Antoine Arnault, 46, already are on the board. If Alexandre and Frédéric’s nominations are approved, four of his five children will have seats on the board.
The youngest Arnault sibling, Jean Arnault, 25, is Louis Vuitton’s watch director.
The nominees are subject to board approval.
Editors' Picks
Sponsored by
More on Financials
The Latest
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
