LVMH’s Watches & Jewelry division delivered one of the strongest performances across the luxury group’s portfolio in the first half of 2026, driven by accelerating momentum at Tiffany & Co. and Bvlgari.
The division recorded revenue of €5.23 billion in the first half, up 9% organically, while second-quarter organic growth accelerated to 11%, making it one of LVMH’s fastest-growing business segments. Profit from recurring operations rose 9% to €831 million, with the operating margin improving over the six-month period.
LVMH attributed the performance to the growing success of its jewellery Maisons’ iconic collections.
Tiffany & Co. posted an “excellent performance”, continuing to strengthen its flagship Knot and HardWear collections while advancing the renovation of its global retail network. The brand also appointed actress Natalie Portman as its new ambassador.
Bvlgari also reported strong growth, unveiling Eclettica, a new artistic vision for its high jewellery and prestige watch collections that generated record-breaking revenue. The Maison also launched a new communication campaign centred on its iconic Serpenti collection.
Within the division, Chaumet continued expanding its Bee de Chaumet collection, while TAG Heuer maintained its high-profile association with Formula 1 racing.
Across the wider group, LVMH generated €38.64 billion in first-half revenue, with organic growth of 2%. Growth accelerated to 3% in the second quarter despite geopolitical and economic uncertainty. Profit from recurring operations stood at €8.69 billion, while operating free cash flow increased to €4.1 billion.
Commenting on the results, Chairman and CEO Bernard Arnault highlighted “the remarkable performance of Louis Vuitton’s exceptional new stores in Beijing and Seoul, and Tiffany and Bvlgari’s iconic lines” as key contributors to the group’s stronger second-quarter momentum.