Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Bulgari Boosts LVMH’s Q3 Watch, Jewelry Sales
The luxury conglomerate reported $1.24 billion in revenue for the category, a 5 percent organic increase year-over-year.
Paris—LVMH reported double-digit revenue growth in its third-quarter results, buoyed by a strong performance across all segments from watches and jewelry to wines and spirits.
Third-quarter revenue totaled €13.32 billion ($14.62 billion), an 11 percent organic increase compared with the previous third quarter.
The luxury conglomerate said it made “good progress” in the U.S. and Europe as well as in Asia, despite the “difficult context” in Hong Kong as protests continue.
LMVH’s watches and jewelry segment brought in €1.13 billion ($1.24 billion) in revenue, a 5 percent organic increase year-over-year.
The company said the jewelry category led the charge in the segment, with Bulgari giving an “excellent performance,” particularly in its own stores. The brand’s Serpenti, B.Zero1, Diva and Fiorever jewelry as well as its new Serpenti Seduttori watch collection were top performers.
Chaumet presented its exhibition “Chaumet in Majesty. Jewels of Sovereigns since 1780” in Monaco this summer, following its presentation in Beijing in 2017 and Tokyo in 2018.
Meanwhile, in the watch segment, Hublot made “solid progress,” LVMH said, adding new models to its product lineup via collaborations, including partnerships with Ferrari and Juventus Football Club.
The brand saw “solid growth,” driven by its Classic Fusion, Big Bang, and Spirt of Big Bang lines, particularly in its directly operated stores.
TAG Heuer continued to focus on its iconic lines, such as its Formula 1 and Carrera models.
The brand recently partnered with Porsche, becoming Title and Timing Partner of the Porsche Formula E Team.
Outside of watches and jewelry, LVMH reported growth across all divisions, which include fashion and leather goods, wines and spirits, perfume and cosmetics, and selective retailing.
Its fashion and leather goods division saw the strongest growth, with revenue climbing 22 percent organically to €15.87 billion ($17.42 billion).
Louis Vuitton and Christian Dior saw a “remarkable performance” in the third quarter, the luxury conglomerate said.
For the nine-month period, the company reported €38.40 billion ($42.14 billion) in overall revenue while its watches and jewelry division brought in €3.26 billion ($3.58 billion).
The Paris-based company did not provide details on its financial outlook for the year ahead but said it will continue to focus on innovation and expanding its presence in “promising” markets.
LVMH’s retail network includes 4,699 stores as of June 30.
The Latest
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.