FinancialsSep 09, 2026
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LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3
Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
In September, Tiffany & Co. opened the Blue Box Café by Daniel Boulud, which is connected to its relocated, expanded, and redesigned store at the South Coast Plaza mall in Costa Mesa, California. The LVMH-owned retailer is in the process of renovating its store network. (Photo courtesy of Tiffany & Co.)
Paris—LVMH’s Watches & Jewelry division recorded the strongest performance of any its business groups in the third quarter on a reported basis, driven by a “very good” performance in jewelry, the company said.
LVMH’s fine jewelry brands include Tiffany & Co., Bulgari, Repossi, Chaumet, and Fred. It also owns and produces fine jewelry for fashion brands Louis Vuitton and Christian Dior.
The company’s watch brands include TAG Heuer, Zenith, and Hublot.
In the third quarter ending Sept. 30, Watches & Jewelry recorded revenue of €2.5 billion ($2.78 billion), up 8 percent from €2.32 billion ($2.58 billion) in Q3 2025.
On an organic basis, sales increased 6 percent year-over-year.
In the first nine months of the year, the luxury conglomerate’s Watches & Jewelry division’s sales totaled €7.73 billion ($8.61 billion), up 4 percent on a reported basis and 8 percent on an organic basis.
Tiffany & Co. is in the process of renovating all 345 of its stores worldwide (95 of those are in the United States) and said earlier this year that it was 40 percent done.
It also is focusing on its classic lines, “HardWear,” “Knot” and “Sixteen Stone.” Earlier this year, the retailer introduced a “Sixteen Stone” solitaire diamond ring, a first for the 67-year-old collection.
Also, during the quarter, Bulgari unveiled its high jewelry and watch collection, “Eclettica,” which generated “record-breaking revenue,” LVMH said, and unveiled a temporary “Serpenti” art installation on the High Line in New York City.
Among its watch brands, TAG Heuer served as the title partner for the Formula 1 Grand Prix race held in September in Madrid, while Hublot announced a collaboration with modern artist Jeff Koons.
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LVMH’s fine jewelry brands include Tiffany & Co., Bulgari, Repossi, Chaumet, and Fred. It also owns and produces fine jewelry for fashion brands Louis Vuitton and Christian Dior.
The company’s watch brands include TAG Heuer, Zenith, and Hublot.
In the third quarter ending Sept. 30, Watches & Jewelry recorded revenue of €2.5 billion ($2.78 billion), up 8 percent from €2.32 billion ($2.58 billion) in Q3 2025.
On an organic basis, sales increased 6 percent year-over-year.
In the first nine months of the year, the luxury conglomerate’s Watches & Jewelry division’s sales totaled €7.73 billion ($8.61 billion), up 4 percent on a reported basis and 8 percent on an organic basis.
Tiffany & Co. is in the process of renovating all 345 of its stores worldwide (95 of those are in the United States) and said earlier this year that it was 40 percent done.
It also is focusing on its classic lines, “HardWear,” “Knot” and “Sixteen Stone.” Earlier this year, the retailer introduced a “Sixteen Stone” solitaire diamond ring, a first for the 67-year-old collection.
Also, during the quarter, Bulgari unveiled its high jewelry and watch collection, “Eclettica,” which generated “record-breaking revenue,” LVMH said, and unveiled a temporary “Serpenti” art installation on the High Line in New York City.
Among its watch brands, TAG Heuer served as the title partner for the Formula 1 Grand Prix race held in September in Madrid, while Hublot announced a collaboration with modern artist Jeff Koons.
The Watches & Jewelry division fared better than any other LVMH business group in the third quarter and the first nine months on a reported basis.
In the first nine months, the division outperformed Wines & Spirits (sales up 3 percent on a reported basis, 5 percent on an organic basis); Selective Retailing, which includes Sephora (down 1 percent reported, up 6 percent organic); Perfumes & Cosmetics (down 2 percent reported, flat organic); and Fashion & Leather Goods (down 4 percent reported, 2 percent organic).
In total, LVMH’s third quarter sales reached €18.5 billion ($20.6 billion), up 1 percent in both reported and organic terms.
Year-to-date, the company’s sales have totaled €57.15 billion ($64.1 billion), down 2 percent as reported but up 2 percent on an organic basis.
The U.S. is second only to Asia in terms of sales for LVMH, accounting for 25 percent of the company’s revenue in the first nine months of the year vs. 27 percent from Asia.
LVMH described its Q3 results as “very solid in an uncertain geopolitical and economic environment.”
It noted that while sales grew in the United States, Europe, and Japan, the continued slowdown in luxury sales in China impacted revenue growth.
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