Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Bulgari Helps to Boost LVMH’s Q1 Results
LVMH Moët Hennessy Louis Vuitton said its jewelry and watches division recorded organic revenue growth of 7 percent in its first quarter, led by a strong performance from Bulgari.
Paris--LVMH Moët Hennessy Louis Vuitton reported Tuesday that the company’s watch and jewelry brands recorded an organic revenue growth of 7 percent in the first quarter, led by a strong performance from Bulgari.
Revenue in the period was $880.3 million, compared with $822 million in the prior-year period.
Bulgari’s iconic jewelry collections and its innovations both recorded strong sales growth, with the brand led by the successful launch of the tri-metal extension to its B.zero1 collection, the “perfect mistake,” and the reopening of its flagship store on New Bond Street in London.
Chaumet, meanwhile, saw a positive performance from the brand’s own stores, especially in Asia.
LMVH also noted a recovery in its watch business after the 2015 destocking by multi-brand retailers.
TAG Heuer had a good quarter, benefiting from its strategy of focusing on its core offering and the continued strong performance of the Connected smartwatch, especially when it comes to attracting younger clientele.
Hublot notably partnered with menswear manufacturer Berluti, an LVMH subsidiary, to create two new Classic Fusion watches, which it unveiled at Baselworld 2016.
LVMH said that a number of other watch brand launches the show were “extremely well received” too.
The Latest
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Despite the rising prices, consumers continue to seek out the precious metal.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.