LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, reported robust growth in jewellery and powerful creative momentum for all the jewellery maisons, in particular Tiffany and Bulgari.
In the jewellery sector, LVMH witnessed rapid growth and further innovation, with organic revenue growth reaching 7% to €10.9 billion in 2023. Tiffany & Co. made headlines with the grand reopening of “The Landmark” in New York, setting new standards in jewellery retail globally, LVMH added. The introduction of the Lock collection and the unveiling of the Blue Book: Out of the Blue high jewellery collection received widespread acclaim, it informed.
Bulgari, renowned for its high jewellery, experienced robust growth, notably with the success of the Mediterranea collection and the iconic Serpenti line, which celebrated its 75th anniversary. Chaumet showcased its creative prowess with a new high jewellery line and a retrospective exhibition, while Fred’s Jewelry Designer exhibition in South Korea was a major success, LVMH said.
The group recorded a staggering revenue of €86.2 billion, reflecting a remarkable organic growth of 13% compared to the previous year. Despite economic and geopolitical challenges, all business groups reported strong organic revenue growth, with notable contributions from Europe, Japan, and Asia. The profit from recurring operations stood at €22.8 billion, marking an 8% increase from the preceding year.