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
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.
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.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
Weekly QuizOct 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
Events & AwardsOct 08, 2026
Pattons Fine Jewelry Sweeps Local Design ContestAra Chanakian, a jeweler at Pattons, took home top honors in every category at Jewelers of Louisiana’s annual jewelry design competition.
AuctionsOct 08, 2026
Reba McEntire’s Jewelry, Watches Head to Julien’s AuctionsThe live charity benefit sale in Nashville will also feature gowns, boots, and other memorabilia from the country music legend.
Supplier BulletinOct 08, 2026
Overnight Mountings’ Bridal Builder Helps Jewelers Turn Custom Design into a Hands-On Selling ExperienceSponsored by Overnight Mountings
Policies & IssuesOct 07, 2026
The Plumb Club Amplifies Its Voice as Geopolitical Pressures MountThe supplier organization recently joined JA and JVC to have more input on political issues affecting the jewelry industry.
CollectionsOct 07, 2026
Blue Nile, Royal Asscher Collection Highlights Natural Diamond BeautyBlue Nile, a Signet Jewelers-owned brand, is now Royal Asscher’s exclusive licensed retailer in North America.
CollectionsOct 07, 2026
4 Standout Pieces in Audemars Piguet’s First High Jewelry Collection “Royal Oak” pays homage to the brand’s most popular watch model using 18-karat gold as well as diamonds, emeralds, and sapphires.
MajorsOct 07, 2026
Empire Safe & Vault Promotes Juan Morales to CEOAs part of the transition, Joseph Nicosia has stepped into the role of COO.
SourcingOct 07, 2026
AGTA Extends Deadline for 2026 Spectrum Awards EntriesParticipants now have until Oct. 14 to complete their submissions.
