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
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.
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 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.
Weekly QuizOct 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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
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.
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.
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
MajorsOct 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
