Physical Retail Reigns Supreme, LVMH Exec Tells CNBC
CFO Jean Jacques Guiony shared his thoughts on the future of retail and how newly acquired Tiffany & Co. fits in.

LVMH Chief Financial Officer Jean Jacques Guiony shared his thoughts on retail’s future and the importance of the in-store experience during a CNBC interview Monday.
The conglomerate’s portfolio spans multiple categories, including fashion, jewelry and watches.
Its brands include Louis Vuitton, Bulgari, Hublot, TAG Heuer, and the recently acquired Tiffany & Co.
On CNBC, Guiony said the retail store experience will weather the COVID-19 pandemic because the “client experience in a retail store cannot be matched easily online.”
Customers who come into LVMH-owned brands’ stores usually have already been to the brand’s website, where they could have made a purchase, but instead still chose to visit the store.
“They get a lot of information, but they come to the store because the store experience is something that cannot be matched on the internet,” he said.
“As of today, I mean, no one has found the sort of miracle formula that would enable clients to enjoy [the experience] as much online.”
That’s not to say the online elements aren’t important. Retailers should “enrich the experience with online content,” he noted.
However, he said LVMH sees online shopping as only a complement to its physical stores.
During the interview, Guiony also spoke about the company’s $15.8 billion acquisition of Tiffany & Co.
The famed jeweler’s New York flagship store on 57th and Fifth, a major draw for shoppers, is still under construction, he noted, but said the rest of the business is “doing fine,” though it is still too soon to give exact figures.
“We are quite satisfied, and on top of that, whatever the numbers, we are definitely convinced that this is a very strong brand.”
Guiony also delved into how Tiffany is settling into the company and the timetable for the assimilation process.
WATCH: LVMH CFO Jean Jacques Guiony Talks Tiffany
“The integration of Tiffany is not a six-month job. It’s something that will last for a number of quarters and the objective is not just to integrate. It is to develop the business up to the level that we think the quality of the brand could generate, so it is a long-term job,” he said.
LVMH’s most recent quarterly results showed a double-digit increase year-over-year in first quarter revenue with sales more than doubling in its watches and jewelry segment.
“All in all, frankly, we cannot complain,” Guiony said, noting business is doing well in most regions.
The Latest

Sponsored by the Las Vegas Antique Jewelry and Watch Show

A private American collector purchased the 10-carat fancy vivid blue diamond.

The designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.


Around 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.

The event is also accepting poster submissions now through June 16.

Supplier Spotlight Sponsored by GIA

Before Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.

The one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.

While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.

The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.

The donation was the result of the brand’s annual Earth Day Ingot event.

Located in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.

BIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.

As a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.

The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.

Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.

“Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.

The deadline to submit is June 16.

Moti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.

Lichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.

The miner announced plans to recommence open-pit mining at Kagem.

Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.

Associate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.

Sponsored by Instappraise

CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.