Financials

LVMH’s Jewelry, Watch Sales Up 3% in 2023

FinancialsJan 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.

Tiffany flagship The Landmark
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 … 

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.

The Latest

2025 National Jeweler Retailer Hall of Fame inductees
Events & AwardsJun 06, 2025
Here Are the 2025 Retailer Hall of Fame Inductees

This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.

Harwell Godfrey Granny Square Eleanor Necklace
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

 Laura Gallon Joaillerie “Dynasty” ring, Bijules “Compass” bolo tie, Löf “The Orbitalis” ring
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design Atelier

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

DCA-student-cert-NJ1872x1052-2.png
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry Business

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

Jack Abraham The Royal Ruby Collection
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las Vegas

The “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.

Weekly QuizJun 05, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Daymond John
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las Vegas

The entrepreneur and “Shark Tank” star will share his top tips for success.

Vaishali Banerjee and Pallavi Sharma
MajorsJun 05, 2025
Platinum Guild International Updates Leadership Team

Two existing executives have been given new roles.

Article Image 1.png
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

Meredith Tiderington
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship Recipient

Meredith Tiderington, an electrical engineering student, was selected for the award.

The Gemological Institute of America’s logo
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown Diamonds

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

Exterior of the Venetian and the Las Vegas Sphere
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 Sessions

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

JCK show
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

Amy Curran
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.

Her new role is director of strategic initiatives.

The eight rings in Viviana Langhoff’s AU79 jewelry collection
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into Gold

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

Woman’s hand holding shopping bags
SurveysJun 03, 2025
Consumer Confidence Improves in May

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

Dakota Johnson as Roberto Coin Brand Ambassador
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand Ambassador

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

Mason Kay Jade necklace
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade Reports

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

Gemfields ruby
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat Ruby

The large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.

Adobe Stock image of skyline of Bangkok, Thailand
GradingJun 02, 2025
GSI Opens New Lab in Thailand

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Seaman Schepps pearl earrings
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June

Those born in June have a myriad of options for their birthstone jewelry.

David Allouche
SourcingJun 02, 2025
David Allouche Joins Grandview Klein Diamonds

The diamond industry veteran has been named its senior sales executive.

Zoë Chicco Bracelets
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable Environment

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Renato Cipullo Hematite Blaze Necklace
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ Necklace

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

Stock image of shipping containers
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs Invalid

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

Britney Spears
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry Line

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Inoveo Platinum Grain image.jpg
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by Stuller

Sponsored by Stuller

Grizzly Mining Pilala emerald
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat Emerald

It was featured in the miner’s latest sale, which brought in $24.8 million.

×

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