CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
FinancialsApr 10, 2018
LVMH Watch, Jewelry Sales Up 20% in Q1
It was one of the strongest-performing divisions for the luxury goods company that owns brands like Bulgari and TAG Heuer.
LVMH brand TAG Heuer marked the 55th anniversary of the Carrera line with a number of introductions at Baselworld, like the black dial and black leather strap version of the Carrera Calibre 16 Chronograph pictured here. LVMH said all its Baselworld introductions were “very well received.”
Paris--Bulgari recorded another solid quarter, helping again to boost results for the Watches & Jewelry division of parent company LVMH.
LVMH Moët Hennessy Louis Vuitton reported Monday that year-over-year organic revenue growth (meaning with comparable structure and exchange rates) for jewelry and watches was 20 percent in the first quarter.
Reported revenue growth was 9 percent, with total sales rising from €879 million ($1.08 billion) to €959 million ($1.18 billion).
LVMH said Bulgari “enjoyed an excellent performance” and continues to gain market share on the back of its most well-known lines, Serpenti, B.Zero 1, Diva and Octo. At the Baselworld show, the brand introduced the Octo Finissimo Automatic Tourbillon, the thinnest automatic tourbillon watch in production that is limited to 50 pieces and retails for $118,000.
Also in the first quarter, Chaumet unveiled a new high jewelry collection and Hublot introduced the Big Bang Sapphire Tourbillon at Basel, while Zenith came out with Defy. TAG Heuer, another of the division’s top-performing brands, paid homage to the 55th anniversary of its popular Carrera line with a number of new watches.
Watches & Jewelry recorded the highest year-over-year Q1 revenue growth of any LVMH division.
Perfumes & Cosmetics was next with organic revenue growth of 17 percent (8 percent reported), followed by Fashion & Leather Goods at 16 percent (25 percent reported), Wines & Spirits at 10 percent (flat reported) and Selective Retailing (Sephora, DFS) at 9 percent (down 2 percent reported because of the company’s termination of its concession at the Hong Kong airport).
Overall, LVMH recorded an organic revenue increase of 13 percent in the first quarter and a reported revenue increase of 10 percent, with sales rising from €9.88 billion ($12.18 billion) to €10.85 billion ($13.43 billion).
The company described the start of the year as “buoyant … albeit marked by unfavorable exchange rates and geopolitical uncertainties.”
More on Financials
The Latest
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
