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Jewelry Proves Strong Contributor to LVMH Revenue

April 13, 2023  |  Leah Meirovich

First-quarter sales at LVMH received a boost from the luxury firm’s jewelry and watch brands, as well as a recovery in Asia.

Revenue for the watch and jewelry category increased 11% year on year to EUR 2.59 billion ($2.85 billion) during the three months that ended March 31, LVMH said Wednesday.

It cited an “excellent start to the year” at Tiffany & Co. and strong growth at Bulgari, which celebrated the 75th anniversary of its Serpenti collection. Other lines also did well.

“High jewelry enjoyed a very good performance,” the company reported. “Chaumet and Fred made remarkable progress.”

The group’s watchmaking maisons, meanwhile, “unveiled many new products at the Watches & Wonders trade show, including innovations from TAG Heuer, Hublot and Zenith.”

Group revenue climbed 17% to EUR 21.04 billion ($23.18 billion) during the quarter.

High demand from both local customers and international travelers buoyed sales in Europe and Japan, while performance in the US remained steady, LVMH related.

“Asia experienced a significant rebound following the lifting of health restrictions,” it added.

Image: A Bulgari store in Paris. (Shutterstock)


Jewelry Proves Strong Contributor to LVMH Revenue

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