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.
Editors' Picks
Sponsored by
More on Financials
The Latest
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
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.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
MajorsSep 23, 2026
Kay Jewelers’ New Campaign Goes ‘All In’ on LovePart of its brand relaunch, the marketing around the campaign includes a contest involving a jacket set with 550 diamonds.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
