MajorsApr 08, 2022
Tiffany Runs With April Fool’s Joke, AgainFinancialsApr 14, 2022
LVMH’s Q1 Jewelry, Watch Sales Up 24%
New addition Tiffany & Co. had an excellent start to the year, the luxury titan said.
Tiffany & Co., an LVMH-owned brand, put on a strong performance in the luxury conglomerate’s first quarter.
Paris—LVMH started off its fiscal year on a high note, reporting strong double-digit revenue growth in its first quarter.
Here are five important takeaways from the luxury titan’s most recent earnings report.
It’s a strong start to the year for LVMH.
LVMH put on a strong performance in the first quarter, reporting revenue growth of 29 percent year-over-year to €18 billion ($19.6 billion).
That double-digit growth carried across every business category, except its wine and spirits division due to supply constraints.
LVMH did not share financial guidance for the year ahead but said it remains “both vigilant and confident” in light of the pandemic and geopolitical crises.
“LVMH relies on the talent and motivation of its teams, the diversity of its businesses, and the geographical balance of its revenues to further strengthen its global leadership position in luxury goods in 2022,” said the company.
Jewelry and watch sales hold strong post-Tiffany acquisition.
Revenue in the watches and jewelry segment climbed 24 percent year-over-year to €2.34 billion ($2.55 billion).
Its jewelry brand portfolio includes Bulgari, Chaumet, Repossi, and Fred, as well as the recently acquired Tiffany & Co.
The category has received a strong boost in recent quarters following LVMH’s acquisition of Tiffany, which closed in January 2021.
The storied brand had an “excellent start to the year,” said LVMH, and posted especially strong growth in the United States.
Its “Knot” collection, which features a knot design on bangles, earrings, rings, pendants, and a choker, saw particular success.
Bulgari’s growth was driven by its high jewelry and watch collections, as well as its Serpenti line, said LVMH.
Additionally, Chaumet and Fred put on an “excellent performance.”
Chaumet’s “Joséphine” and “Liens” lines did well while Fred opened a new flagship in Singapore.
Here are five important takeaways from the luxury titan’s most recent earnings report.
It’s a strong start to the year for LVMH.
LVMH put on a strong performance in the first quarter, reporting revenue growth of 29 percent year-over-year to €18 billion ($19.6 billion).
That double-digit growth carried across every business category, except its wine and spirits division due to supply constraints.
LVMH did not share financial guidance for the year ahead but said it remains “both vigilant and confident” in light of the pandemic and geopolitical crises.
“LVMH relies on the talent and motivation of its teams, the diversity of its businesses, and the geographical balance of its revenues to further strengthen its global leadership position in luxury goods in 2022,” said the company.
Jewelry and watch sales hold strong post-Tiffany acquisition.
Revenue in the watches and jewelry segment climbed 24 percent year-over-year to €2.34 billion ($2.55 billion).
Its jewelry brand portfolio includes Bulgari, Chaumet, Repossi, and Fred, as well as the recently acquired Tiffany & Co.
The category has received a strong boost in recent quarters following LVMH’s acquisition of Tiffany, which closed in January 2021.
The storied brand had an “excellent start to the year,” said LVMH, and posted especially strong growth in the United States.
Its “Knot” collection, which features a knot design on bangles, earrings, rings, pendants, and a choker, saw particular success.
Bulgari’s growth was driven by its high jewelry and watch collections, as well as its Serpenti line, said LVMH.
Additionally, Chaumet and Fred put on an “excellent performance.”
Chaumet’s “Joséphine” and “Liens” lines did well while Fred opened a new flagship in Singapore.
The Tiffany & Co. brand is strong.
Tiffany is a top brand among LVMH’s jewelry houses, receiving special attention, as did Bulgari, in its earnings presentation.
The “Knot” collection was a strong performer, alongside Tiffany’s high jewelry offerings.
Its relaunch of designs by famed jeweler Jean Schlumberger also did well.
The company launched a new campaign for its HardWear line, featuring K-pop superstar Rosé.
Its celebrity ambassadors include Anya Taylor-Joy, Tracee Ellis Ross, and Eileen Gu.
Recently, the jeweler jokingly announced it would be getting into the cryptocurrency game, launching TiffCoin as an April Fool’s joke.
It later released 499 physical 18-karat gold Tiffcoins, priced at $9,999, individually numbered and engraved with a Tiffany “T.”
The brand joined Signet Jewelers and Brilliant Earth in refusing to purchase Russian diamonds in light of the Russian invasion of Ukraine.
There’s a lot of newness from its watch brands.
LVMH’s watch brand portfolio includes TAG Heuer, Hublot, and Zenith.
Its watch brands “continued to see strong momentum,” said LVMH, and unveiled several new timepieces at the recent Watches & Wonders show in Geneva.
TAG Heuer introduced five new watches at the trade show, including its first solar-powered watch.
The brand also debuted the Carrera Plasma, which features lab-grown diamonds, including an entirely diamond crown at 3 o’clock.
Hublot launched The Big Bang Unico Ledger in partnership with cryptocurrency company Ledger, and Zenith introduced the new Chronomaster Open and Chronomaster Sport models.
Bulgari also recently released the new Octo Finissimo Ultra watch.
The U.S. region posted double-digit growth.
The United States is LVMH’s second-largest market in terms of revenue, just behind Asia.
The U.S. accounted for 24 percent of revenue, up from 23 percent in the previous first quarter.
U.S. organic revenue was up 26 percent, compared with 23 percent growth last year.
Japan and Europe also posted double-digit organic revenue growth.
Asia, excluding Japan, reported revenue growth of 8 percent, a significant difference compared with 86 percent growth in the previous first quarter.
“Asia continued to grow over the quarter despite the impact of a tightening of health restrictions in China in March,” said LVMH.
More on Financials
The Latest
CrimeDec 01, 2025
Fourth Man Charged in Louvre Jewelry HeistThe man, who has a criminal history, is suspected of being the fourth member of the four-man crew that carried out the heist.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
SourcingNov 25, 2025
Finestar Opens Diamond Manufacturing Facility in JohannesburgIt joins the company’s other manufacturing facilities globally, including in India, Botswana, and Namibia.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
IndependentsNov 24, 2025
J.R. Dunn Jewelers Names New PresidentSecond-generation jeweler Sean Dunn has taken on the role.
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
SourcingNov 21, 2025
De Beers’ Branded, Traceable Diamonds Roll Out to 19 Retailers Called “Origin by De Beers Group,” the loose, polished diamonds are being sold in a total of 30 stores in the United States and Canada.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
