CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
FinancialsJul 28, 2020
LVMH’s Watch, Jewelry Sales Down 38% So Far This Year
Declining orders from retailers have hit TAG Heuer and Hublot hard, though TAG’s new smartwatch has “been a great success.”
The newest version of the Connected smartwatch from LVMH-owned watch brand TAG Heuer. The luxury giant saw jewelry and watch sales fall 38 percent in the first half of the year, with overall sales down 27 percent.
Paris—To paraphrase Dennis Green, the numbers are what we thought they would be.
On Monday, LVMH Moët Hennessy Louis Vuitton, the luxury behemoth that owns brands like Bulgari and TAG Heuer, reported a 38 percent year-over-year decline (39 percent with comparable structure and exchange rates) in sales for its Watches & Jewelry division in the first half of 2020.
Sales totaled €1.32 billion ($1.55 billion), down from €2.14 billion ($2.51 billion) in the same period last year.
Like so many companies, LVMH was forced to shutter its stores and manufacturing facilities for several months due to the worldwide spread of COVID-19.
The company said Monday that in Q2, Bulgari experienced a rebound in the Chinese market as stores there reopened for business.
The iconic Italian brand introduced B.Zero1 Rock collection in February and a new high jewelry collection, this one called Barocko, in June using augmented reality.
Watch brands TAG Heuer and Hublot, meanwhile, felt the impact of the pandemic on third-party retailers, with orders declining.
The new TAG Heuer smartwatch, however, launched at an event in New York right before COVID-19 forced the city to shut down, has “been a great success,” LVMH said.
RELATED CONTENT: Richemont’s Jewelry Sales Sink 41% in Q1
Total sales for LVMH, which also owns Louis Vuitton, Christian Dior and champagne brand Moët, declined 27 percent (28 percent with comparable structure and exchange rates) year-over-year to €18.39 billion ($21.61 billion).
Profit from recurring operations sunk 68 percent to €1.67 billion ($1.96 billion). The company said its most profitable brands were Louis Vuitton, Christian Dior and Moët Hennessy’s stable of wines and liquors.
In a news release announcing first-half results, LVMH Chairman and CEO Bernard Arnault noted the company has seen “an upturn in activity” since June, though the start of the recovery has been uneven.
LVMH’s Q2 revenue fell 38 percent, with a strong rebound in China but sales “notably down” in Europe and the United States, which is battling widespread outbreaks in multiple states and leads the world in both the number of reported COVID-19 cases and deaths.
“We remain very vigilant for the rest of the year,” Arnault remarked. “We continue to be driven by a long-term vision, a deep sense of responsibility and a strong commitment to environmental protection, inclusion and solidarity.
“Thanks to the strength of our brands and the responsiveness of our organization, we are
Editors' Picks
Sponsored by
confident that LVMH is in an excellent position to take advantage of the recovery, which we hope will be confirmed in the second half of the year.”
LVMH did not provide financial guidance for the rest of the fiscal year, stating only that it will focus on controlling costs and “being selective in its investments.”
“The impact of the epidemic on revenue and annual results cannot be precisely assessed at this stage without knowing the timetable for the return to normal business in the different areas where the group operates,” it said.
Regarding its planned acquisition of Tiffany & Co., LVMH provided a one-line update, noting that the closing date will depend on it receiving final regulatory approvals.
Questions about whether the $16 billion deal will go through arose earlier this summer due to the impact COVID-19 has had on retail and the ongoing civil unrest in the U.S.
More on Financials
The Latest
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
Weekly QuizJul 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
