FinancialsMar 27, 2024
Movado’s Full-Year Sales Sink 11%FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
A visual from LVMH-owned Tiffany & Co.’s new “With Love, Since 1837” campaign. LVMH posted a 5 percent drop in reported revenue in its watches and jewelry category.
Paris—LVMH started off its fiscal year on a low note, posting a drop in overall reported sales and in its watch and jewelry division.
The luxury conglomerate had a muted first quarter with reported revenue down 2 percent (up 3 percent in organic growth) to €20.69 billion ($21.97 billion).
“LVMH had a good start to the year despite a geopolitical and economic environment that remains uncertain,” said the company.
In the U.S. and Europe, the company saw growth on a constant currency basis, while Japan saw double-digit revenue growth.
The rest of Asia also saw strong growth, which LVMH said reflected the growth in spending by Chinese customers in Europe and Japan.
Its jewelry and watch category struggled with quarterly sales down 5 percent (down 2 percent in organic growth) to €2.47 billion ($2.62 billion).
Related stories will be right here …
The luxury conglomerate had a muted first quarter with reported revenue down 2 percent (up 3 percent in organic growth) to €20.69 billion ($21.97 billion).
“LVMH had a good start to the year despite a geopolitical and economic environment that remains uncertain,” said the company.
In the U.S. and Europe, the company saw growth on a constant currency basis, while Japan saw double-digit revenue growth.
The rest of Asia also saw strong growth, which LVMH said reflected the growth in spending by Chinese customers in Europe and Japan.
Its jewelry and watch category struggled with quarterly sales down 5 percent (down 2 percent in organic growth) to €2.47 billion ($2.62 billion).
As for its brands, Tiffany & Co. continued the global rollout of its new store concept, which takes inspiration from “The Landmark,” its New York City flagship.
The flagship launched its first exhibition, “Culture of Creativity,” which celebrates the brand’s “long-standing commitment to artistic excellence.”
Tiffany’s new campaign, “With Love, Since 1837,” which showcases its most iconic collections, has been well-received, said LVMH.
Bulgari has relaunched its “B.zero1” collection and has continued to highlight its “Serpenti” line.
The brand also launched Fondazione Bulgari, a foundation “dedicated to preserving cultural and craft heritage, and to passing on skills in Italy.”
Chaumet debuted its medals for the Paris 2024 Olympic and Paralympic Games while Fred released its new “Sunshine Jeweler” campaign.
As for its watches, TAG Heuer, Hublot, and Zenith presented in Miami at the fifth LVMH Watch Week during the quarter.
Looking to the year ahead, LVMH did not provide specific guidance, but said it remains “vigilant and confident” despite the uncertain geopolitical and economic environment.
More on Financials
The Latest
CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
SourcingJul 22, 2025
Antwerp Diamond Heist Documentary Coming to Netflix“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in AugustThe wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.
MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
