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
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
Events & AwardsAug 20, 2026
MJSA Education Foundation Names 5 Scholarship WinnersThe five students were awarded a total of $10,000 through the nonprofit’s 2026 “Future of Jewelry Making” scholarship.
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsAug 20, 2026
Plumb Club Elects 2026-2027 BoardSteven Lerche is now beginning his term as the youngest member to become president of The Plumb Club’s elected executive committee.
MajorsAug 19, 2026
Mike Alexander To Succeed Scott Murphy as Jewelers Mutual CEO Murphy will retire at the end of the year and Alexander, currently the company’s president, will take over at the start of 2027.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
MajorsAug 19, 2026
Zales Wants You to Wear Fine Jewelry Every DayThe new campaign, “You Are The Occasion,” discourages shoppers from saving their fine jewelry for special occasions only.
SourcingAug 19, 2026
Vasant Mehta, a Dedicated Diamond Industry Leader, Dies at 81Mehta led India’s GJEPC through the 2008 financial crisis and was respected worldwide for his wisdom, integrity, and knowledge.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
