SourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.
FinancialsJan 30, 2017
Watch, Jewelry Sales Up 5% for LVMH in 2016
But the CEO of the luxury conglomerate has warned employees to be cautious and “very vigilant” in the year ahead due to geopolitical instability worldwide.
Bulgari’s black ceramic Serpenti Spiga with 18-karat rose gold touches ($10,500). The Italian brand was one of LVMH’s top performing watch and jewelry brands in 2016.
Paris--LVMH Moët Hennessy Louis Vuitton, owner of Bulgari and TAG Heuer, reported 5 percent year-over-year growth in its Watches & Jewelry division in 2016.
Sales of the watch and jewelry brands owned by the luxury conglomerate totaled $3.72 billion last year, compared with $3.55 billion in 2015.
Profit was up 6 percent year-over-year.
LVMH said both Bulgari and TAG Heuer gained market share in 2016.
Bulgari did so with the extensions to its Serpenti, Diva and B.zero1 lines. TAG Heuer benefitted from the success of its new collections and Connected, its smartwatch.
Hublot recorded the best year in its history as it continued to grow its business in Asia, LVMH said.
LVMH also owns Zenith, Chaumet and Fred, and operates the De Beers-branded chain of jewelry stores in partnership with the diamond miner and marketer, though the company did not provide any specifics on the chain’s performance in 2016.
Total sales for LVMH, which said it had a record year for revenue and profit from recurring operations, also rose 5 percent (6 percent organic growth) in 2016, from $38.31 billion to $40.35 billion.
The American market “remains on a good track,” with sales growing year-over-year, the company said.
Profit from recurring operations rose 6 percent. All divisions except selective distribution, the business group that includes the Sephora chain, recorded increased profits.
Operating margin was 18.7 percent.
In the fourth quarter, revenue was up 8 percent (9 percent organic growth).
LVMH said it is “cautiously confident” that it could continue to grow in 2017, though on its earnings call chairman and CEO Bernard Arnault sounded a warning bell about possible trouble ahead in the luxury sector.
He noted that the luxury sector is due for another downturn.
Arnault also cited rising interest rates and the unknown economic impact of certain political situations worldwide--including U.S. President Donald J. Trump’s plan to raise border taxes on imports and Brexit in Europe--as factors that could impact consumer sentiment as the year continues.
More on Financials
The Latest
AuctionsSep 09, 2025
‘The Mellon Blue’ to Return to Auction, This Time at Christie’s The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.
AuctionsSep 09, 2025
Phillips Names Dianne Batista Head of Jewels, New YorkThe industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
MajorsSep 09, 2025
MJSA Education Foundation Announces 2025 Scholarship WinnersThe nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.
Weekly QuizSep 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsSep 08, 2025
Take a Look Inside the New Korman Store in AustinThe Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.
MajorsSep 08, 2025
MJSA Is Officially Now Under JA’s UmbrellaThe two organizations have finalized and signed the affiliation agreement announced in May.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
AuctionsSep 08, 2025
Sotheby’s To Auction ‘Exceptional’ Collection of JAR, Suzanne Belperron JewelsThe single-owner sale will headline Sotheby's inaugural jewelry auction at the Breuer building, its new global headquarters, this December.
Events & AwardsSep 08, 2025
27 Can’t-Miss Converge Sessions, Events From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.
ColumnistsSep 05, 2025
Peter Smith: A Lasting Lesson From Maurice Tempelsman Smith recalls a bit of wisdom the industry leader, who died last week, shared at a diamond conference years ago.
CollectionsSep 05, 2025
Piece of the Week: Jamie Turner’s ‘Victoria’ Necklace The “Victoria” necklace features a labradorite hugged by diamond accents in 18-karat yellow gold.
Policies & IssuesSep 05, 2025
Trump Takes Tariffs Case to the Supreme Court Two lower courts have moved to block the import taxes, which will remain in place as the legal battle continues.
WatchesSep 05, 2025
Patrick Mahomes Is the New Hublot Brand AmbassadorThe Kansas City Chiefs quarterback shares Hublot’s dedication to pursuing greatness, the Swiss watchmaker said.
SourcingSep 04, 2025
Lucara Unveils Unusual 37-Carat Pink DiamondThe Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.
WatchesSep 04, 2025
Breitling Takes Its NFL Game to the Next Level Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.
Events & AwardsSep 04, 2025
The NYC Jewelry, Antique, & Object Show Returns in NovemberNYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.
SourcingSep 03, 2025
Gemfields Confirms Completion of Fabergé SaleU.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.
MajorsSep 03, 2025
These Are the Nearly 300 Claire’s Stores Set to CloseA new court filing details the locations of the stores that will close, as well as the 830 that will remain open.
MajorsSep 03, 2025
Stuller Releases 2 New Catalogs The new catalogs are “Tools, Equipment, & Metals” and “Findings & Metals.”
TrendsSep 03, 2025
Amanda’s Style File: A Perfect BirthstoneSapphire’s variety of colors make it the perfect birthstone for September.
MajorsSep 02, 2025
Birks CEO Jean-Christophe Bédos Steps DownNiccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.
MajorsSep 02, 2025
Harry Winston Opens Its Largest Flagship in JapanThe three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.
CollectionsSep 02, 2025
Stephanie Gottlieb Debuts Silver Designs in ‘All Hours’ CollabThe collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.
AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink DiamondThe highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.
