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
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
SourcingNov 21, 2025
De Beers’ Branded, Traceable Diamonds Roll Out to 19 Retailers Called “Origin by De Beers Group,” the loose, polished diamonds are being sold in a total of 30 stores in the United States and Canada.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
