FinancialsSep 12, 2024
Signet Jewelers’ Q2 Sales Fall 8% FinancialsOct 16, 2024
LVMH Jewelry, Watch Sales Down 5 Percent So Far This Year
Sales slipped 4 percent in the third quarter in an environment the company described as economically and politically uncertain.
An image from Tiffany & Co.’s “With Love, Since 1837” campaign, which it launched earlier this year. Tiffany & Co. is part of LVMH’s Watches & Jewelry division, which saw sales decline 4 percent on an organic basis in the third quarter.
Paris— LVMH’s watch and jewelry sales slipped again in the third quarter against a backdrop of global economic and political uncertainty and continued weakness in China.
The Paris-based luxury conglomerate reported Tuesday that third-quarter sales in its Watches & Jewelry division totaled €2.39 billion ($2.60 billion) compared with €2.52 billion ($2.74 billion) a year ago, a 4 percent year-over-year decline on an organic basis.
Year-to-date, LVMH’s watch and jewelry sales have totaled €7.54 billion ($8.21 billion), down 5 percent year-over-year (3 percent on an organic basis).
In the release announcing the results, LVMH called out a few of its brands.
It described Tiffany & Co.’s new “Tiffany Titan by Pharrell Williams” collection as being “exceptionally well received,” and said Chaumet enjoyed “high visibility” over the summer because it designed the medals for the Paris Olympic and Paralympic Games.
Tiffany & Co. also continued to roll out its new concept stores in major markets while celebrating the 50th anniversary of Elsa Peretti’s designs for the jeweler.
Related stories will be right here …
The Paris-based luxury conglomerate reported Tuesday that third-quarter sales in its Watches & Jewelry division totaled €2.39 billion ($2.60 billion) compared with €2.52 billion ($2.74 billion) a year ago, a 4 percent year-over-year decline on an organic basis.
Year-to-date, LVMH’s watch and jewelry sales have totaled €7.54 billion ($8.21 billion), down 5 percent year-over-year (3 percent on an organic basis).
In the release announcing the results, LVMH called out a few of its brands.
It described Tiffany & Co.’s new “Tiffany Titan by Pharrell Williams” collection as being “exceptionally well received,” and said Chaumet enjoyed “high visibility” over the summer because it designed the medals for the Paris Olympic and Paralympic Games.
Tiffany & Co. also continued to roll out its new concept stores in major markets while celebrating the 50th anniversary of Elsa Peretti’s designs for the jeweler.
Bulgari celebrated 140 years with the celebrity-filled “Eternally Reborn” campaign and a new collection, “Bulgari Tubogas,” which took cues from the tubogas jewelry it created in the 1940s.
LVMH also noted that watch brand TAG Heuer will be involved in its new 10-year global partnership with Formula 1, announced earlier this month.
As a whole, LVMH’s third-quarter sales totaled €19.08 billion ($20.8 billion), a decline of 3 percent on an organic basis.
The results fell short of analysts’ expectations, causing the luxury conglomerate’s shares to drop 7 percent on Wednesday.
In the first nine months of the year, sales have totaled €60.75 billion ($66.15 billion), essentially flat year-over-year, with sales of Fashion & Leather Goods—considered the company’s key division—Wines & Spirits, and Watches & Jewelry all on the decline.
Both the company’s Perfumes & Cosmetics and Selective Retailing divisions have seen sales increase, though only nominally.
Selective Retailing includes Sephora, Le Bon Marché, and the DFS duty-free stores in airports.
More on Financials
The Latest
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement RingEstimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
AuctionsDec 12, 2024
Tom Brady’s Watches Top $4M at Sotheby’s AuctionThe highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
Weekly QuizDec 12, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingDec 12, 2024
Grizzly Emerald Auction Garners $22.4MRecent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
MajorsDec 12, 2024
Mark Henry Appoints New Director of SalesCarrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
Brought to you by
Protecting Your Sparkle: Why Screening Has Become Essential While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.
SourcingDec 12, 2024
De Beers Announces 2024 ‘Shining Light’ Award WinnersThe competition awarded 12 designers, each from a country where De Beers recovers diamonds, with business support and tuition assistance.
CollectionsDec 12, 2024
The Jared Atelier x Vera Wang Collection Emphasizes EleganceThe high jewelry collection features 14 one-of-a-kind pieces, with serpent and ribbon motifs winding their way through the collection.
CrimeDec 11, 2024
Former Tiffany & Co. Factory Supervisor Sentenced for Stealing Precious Metals A federal judge gave Benjamin Preacher 59 days in jail, plus 10 months of home confinement and two years of supervised release.
GradingDec 11, 2024
IGI Set to Go Public Next WeekIn a CNBC interview, CEO Tehmasp Printer discussed the IPO in India and what declining lab-grown diamond prices mean for the company.
AuctionsDec 11, 2024
Sotheby’s Important Watches Sale Fetches $16.6MThe offering included vintage Rolexes, timepieces worn in “Titanic,” Steve McQueen's watch, and a special Citizen pocket watch.
CollectionsDec 11, 2024
Stephanie Gottlieb Brings Natural Diamonds to StudsThe 13-piece “Stephanie Gottlieb x Studs” collection is the piercing studio’s first fine jewelry offering to feature the gemstone.
IndependentsDec 10, 2024
Sauer Opens First U.S. StoreThe Brazilian jewelry brand made a home on New York City’s Madison Avenue with exclusive pieces only available at the location.
SurveysDec 10, 2024
Jewelry Among Top Sellers on Cyber Monday, Says AdobeAn Adobe Analytics report explored the rise in mobile shopping, the popularity of Buy Now Pay Later options, and peak shopping hours.
Events & AwardsDec 10, 2024
AGTA Launches Scholarship for University of Arizona Geosciences StudentsThe inaugural Dick Greenwood Memorial Scholarship in Gems Science will cover the fall 2025 and spring 2026 semesters.
Events & AwardsDec 10, 2024
JA New York To Debut 2 New Pavilions at Spring 2025 ShowA Piazza Italia pavilion will feature Italian designers and manufacturers while “MJSA Showcase” brings over a piece of the MJSA Expo.
CollectionsDec 09, 2024
Ray Griffiths’ First Coffee Table Book Spans 5 Decades of Design“Ray Griffiths: The Works” tells the story of the master jeweler’s career, which started with an apprenticeship in Australia at age 15.
MajorsDec 09, 2024
Thomas Davis, Grant Mobley Join WJA Foundation Board Davis is the director of business development at Select Jewelry Inc., and Mobley is the jewelry and watch editor at the Natural Diamond Council.
IndependentsDec 06, 2024
After 44 Years in Business, This Wisconsin Independent Is ClosingMike Straub and John Treiber opened Treiber & Straub in 1980 with the goal of bringing Milwaukeeans the best jewelry brands.
TrendsDec 06, 2024
Pantone’s Color of the Year Is a Delicious MousseThe color for 2025, “Mocha Mousse,” embodies thoughtful indulgences and everyday pleasures.
CollectionsDec 06, 2024
Piece of the Week: Cocoerow Fine Jewelry’s ‘Kokoro’ PendantThe Yoruba word for ant, “Kokoro” embodies the strength of womanhood in ant society while highlighting responsible sourcing.
FinancialsDec 05, 2024
Signet Jewelers’ Q3 Sales Slide Amid Slow Engagement Ring Sales, Tech IssuesThe jewelry retailer addressed the lab-grown diamond “disruption,” the price of gold, and its holiday weekend performance.
SurveysDec 05, 2024
Consumer Confidence Rises Again in NovemberA more positive view of the current labor market boosted the Conference Board’s index last month.
Events & AwardsDec 05, 2024
Michael S. Krzemnicki to Receive 2024 Bonanno AwardThe director of the Swiss Gemmological Institute (SSEF) will be honored for his impact on gemology and dedication to advancing the science.
Supplier BulletinDec 05, 2024
Join Us For Color's Premier Show: 2025 AGTA GemFair TucsonSponsored by 2025 AGTA GemFair Tucson
