LVMH, the world’s leading luxury goods conglomerate, has reported revenue growth of 5% to €7.9 billion in its Watches & Jewellery business group for the first nine months of 2023.
The Watches & Jewellery segment, which includes iconic brands such as Tiffany, Bulgari, Chaumet, and Fred, witnessed a spree of activity in this period. Tiffany, following the triumphant reopening of its iconic “The Landmark” store in New York, embarked on a store network refurbishment project, notably in Tokyo, where two dazzling new stores were unveiled in the Ginza and Omotesando districts. The “Lock” collection, recognised for its elegance, was introduced to new jewellery categories and witnessed a global expansion. Additionally, the second part of the “Blue Book: Out of the Blue” high jewellery collection made its debut.
Bulgari celebrated the 75th anniversary of its Serpenti collection, commemorating this milestone with an exhibition in Dubai, following successful exhibitions in Shanghai, New York, and Seoul earlier in the year. The high jewellery sector witnessed a stellar performance, particularly with the launch of the “Mediterranea” collection.
Chaumet hosted the “A Golden Age: 1965-1985” retrospective exhibition in the salons of its 12 Vendôme location. Fred, on the other hand, introduced “Audacious Blue,” its first lab-grown blue diamonds, and both brands experienced robust growth.