“The Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
LVMH Up 13% Last Year, Bolstered by Bulgari
The Italian brand was the star of LVMH’s watches and jewelry division, while Hublot and TAG Heuer made progress.
New York--In its recently released year-end report, luxury conglomerate Moët Hennessy Louis Vuitton (LVMH) reported a 13 percent year-over-year increase in revenue across all divisions.
Total revenue was 42.6 billion euros, or approximately $52.59 billion per current exchange rates.
LVMH said organic revenue grew 12 percent and each of its divisions grew organically by double digits, with the exception of wines and spirits. Profits increased 18 percent, while operating margin hit 19.5 percent.
In the company’s watches and jewelry division, the strongest-performing brand was Bulgari, which grew considerably across Asia, Europe and the United States.
LVMH attributed the brand’s popularity to iconic lines like Serpenti, B.Zero1, Diva and Octo.
Overall, watches and jewelry saw organic revenue growth of 12 percent, while revenue growth on a reported basis was 10 percent. Profit from recurring operations grew 12 percent.
Chaumet grew due to the success of its Liens and Josephine collections.
In watches, both Hublot and TAG Heuer saw growth, with the latter launching a new generation of customizable smartwatches in the period.
Commenting on the company’s performance as a whole, Chairman and CEO Bernard Arnault said: “LVMH achieved another record year. The excellent performance, to which all our businesses contributed, is due in part to the buoyant environment but, above all, to the remarkable creative strength of our brands and their ability to constantly reinvent themselves … In an environment that remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2018, our leadership in the universe of high-quality products.”
LVMH said it is viewing fiscal year 2018 with “cautious confidence.”
The Latest
The annual list recognizes young professionals making an impact in jewelry retail.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
Despite the rising prices, consumers continue to seek out the precious metal.
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.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
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.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.