SurveysJun 15, 2021
NRF Raises 2021 Retail Sales ForecastMajorsJun 23, 2021
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.
An 18-karat yellow gold wrap bracelet from LVMH-owned Tiffany & Co.’s HardWear collection ($8,900). In a recent CNBC interview, LVMH CFO Jean Jacques Guiony spoke about how Tiffany is fitting in with its other brands as well as the future of physical retail.
New York—Luxury titan LVMH is feeling confident about the future of retail, particularly in-store shopping.
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.”
Related stories will be right here …
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.
Editors' Picks
Sponsored by
More on Majors
The Latest
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
Weekly QuizSep 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
