Financials

LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’

FinancialsJul 25, 2025

LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’

Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.

Bulgari Celestial Mosaic spinel necklace
The “Celestial Mosaic” necklace, set with a 131.21-carat spinel, from LVMH-owned brand Bulgari’s “Polychroma” high jewelry collection. LVMH’s watch and jewelry sales were flat in organic terms in the first half of the year, with jewelry sales stronger than watch sales.
Paris—LVMH’s first-half sales declined as the luxury titan grappled with a “disrupted” geopolitical and economic environment.

In the first half of the year, LVMH’s revenue totaled €39.81 billion ($46.74 billion), down 4 percent year-over-year.

In the second quarter, revenue was down 7 percent year-over-year (4 percent in organic terms) to €19.5 billion ($22.89 billion).

“LVMH showed solidity in the current context,” LVMH Chairman and CEO Bernard Arnault said, giving credit to the innovation and craftsmanship at its brands.

“Beyond the prevailing uncertainties, we remain focused thanks to the long-term vision that has always guided our family group.”

LVMH said sales in its watches and jewelry division remained stable in the first half of the year, with its iconic lines doing especially well.

On an earnings call Thursday, LVMH Chief Financial Officer Cecile Cabanis said the “modest” growth in jewelry sales was offset by weakness in watches.

In the first half, revenue in the watches and jewelry segment was down 1 percent year-over-year (flat in organic terms) to €5.09 billion ($5.98 billion).

In the second quarter, revenue in the category totaled €2.61 billion ($3.06 billion), down 3 percent year-over-year (flat in organic terms).

LVMH’s jewelry portfolio is comprised of Bulgari, Chaumet, Repossi, Fred, and Tiffany & Co.

Tiffany & Co. has been expanding its collections, including “Tiffany T,” “Lock,” HardWear,” and “Knot.”

The retailer also has been rolling out its new concept stores inspired by The Landmark in New York City, and recently opened its largest European flagship store in Milan.

The store renovations and related communications led to a decline in profit from recurring operations, said LVMH.

Bulgari has been celebrating the Year of the Snake in the Chinese zodiac with immersive art exhibitions showcasing its “Serpenti” line in Shanghai and Seoul.

The brand released its new “Polychroma” high jewelry collection in Taormina, Italy, in May.

It also has a new flagship in Milan on Via Monte Napoleone, and recently expanded its manufacturing site in Valenza, Italy.

Chaumet has been actively developing its signature “Bee de Chaumet” jewelry line and introduced its “New Jewels by Nature” high jewelry collection.

Fred expanded its “Force10” collection and debuted new high jewelry designs at the Cannes Film Festival.

 Related stories will be right here … 

LVMH’s watch brand portfolio consists of TAG Heuer, Hublot, and Zenith.

TAG Heuer, after signing a partnership with Formula 1 last year, became the event’s first partner, with visibility at the Monaco Grand Prix.

Hublot honored the 20th anniversary of its “Big Bang” collection with new watch models.

Zenith celebrated its 160th anniversary, introducing a limited edition of the G.F.J. Calibre 135.

Looking at LVMH’s performance by region, the company said there was solid local demand in the United States and Europe.

Sales in the U.S. were flat in the second quarter and down 1 percent in the first half on an organic basis.

The U.S. is LVMH’s largest market in terms of revenue, just behind Asia. It accounted for 25 percent of revenue in H1 2025, unchanged from the first half of 2024.

LVMH recently appointed Michael Burke chairman and CEO of LVMH Americas.

Sales in Japan fell 28 percent in the second quarter and 15 percent in the first half, facing tough comps from H1 2024 when tourist spending in the country drove up sales, said LVMH.

LVMH did not provide guidance for the year ahead.

However, Arnault said, “We head into the second half of the year with great vigilance, and I am confident in LVMH’s tremendous long-term potential and the commitment of our teams to further reinforce the group’s leadership position in luxury goods.”

The Latest

Taylor Swift Etho Maria ruby earrings The Life of a Showgirl TS12
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings

Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.

Audemars Piguet Starwheel Watch
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in Manufacturer

Its investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.

Nicolette Bianchi
MajorsAug 15, 2025
Rio Grande Names New Marketing Director

Nicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Pippa Small Myanmar Fish Cluster
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’

Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.

Weekly QuizAug 15, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Casio America CEO Yusuke Suzuki
MajorsAug 14, 2025
Casio America Names New CEO

Longtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.

LA Trading Day
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LA

The full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Cristiano Ronaldo and Stephanie Gottlieb Ring
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut Diamond

Model Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.

International Colored Gemstone Association logo
SourcingAug 13, 2025
ICA Names 2025 Board of Directors

The board elected 9 new directors at its recent ICA Congress in Brazil.

Whiskey Barrel Ring
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring Giveaway

Three winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.

People shopping in a mall
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRF

JD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.

Columbia Gem House Winza sapphires and rubies
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, Rubies

The new inventory, all untreated, features vibrant hues and unique bicolor combinations.

Gemfields Faberge
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50M

Acquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.

Shipping containers on a ship
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump Says

President Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.

Jacquie Aiche Thunderbird Slab Collection Campaign
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the Thunderbird

The “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.

Duvall O’Steen and Jen Cullen Williams
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better Headshot

Columnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.

Vigil for slain Wheat Ridge, Colorado jeweler Peter Damian Arguello
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado Jeweler

Peter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.

Lisa Bridge
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge Jeweler

The retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.

Bethenny Frankel
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience Show

The Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.

Nora Kühner fashion design consulting trend forecast colors 2027
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple Years

Associate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.

Jewellers for Hope charity event
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of Fundraising

The organization has raised more than $1.3 million for charity since its inception.

Rahaminov Diamonds Emerald-Cut Diamond Bezel Bangle
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel Bangle

The brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.

Black and white photo of Tony Bennett near a microphone
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony Bennett

The first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.

Sapphire page in Chatham’s “Ultimate Lab-Grown Catalog”
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown Gemstones

The catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.

Rembrandt Blue Jay, Hummingbird, Cardinal Bird Charms
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird Charms

The company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.

Shipping containers on a ship
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says

An additional 25 percent tariff has been added to the previously announced 25 percent.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy