US and Asia Drive LVMH Jewelry Rebound

Revenue from jewelry and watches at LVMH grew 3% year on year in the first half of 2026 amid solid demand from the US and Asian markets and a strong performance from Tiffany and Bulgari.

Sales for the division rose to EUR 5.23 billion ($5.93 billion) for the six months that ended June 30, the company said Monday. Profit for the category jumped 9% to EUR 831 million ($944.7 million).

“Jewelry recorded an excellent performance in the first half of the year, including double-digit growth in the second quarter and positive growth across all key regions, driven by the US, Asia and Japan,” Rodolphe Ozun, director of financial communications at LVMH, said in an earnings call.

Although revenue for watches and jewelry was down slightly in the first quarter, which the company primarily attributed to geopolitical factors, including the war in the Middle East, a rebound in the second quarter lifted sales for the six months.

“Tiffany & Co. achieved an excellent performance and continued to successfully strengthen its iconic product lines…and to renovate its store network,” LVMH commented. “Bulgari also achieved strong growth and unveiled a new artistic vision for high jewelry and prestige watches…which generated record-breaking revenue.”

Meanwhile, group revenue slipped 3% to EUR 38.64 billion ($43.94 billion) for the first half, amid slowdowns in sales of fashion and leather goods, perfumes and cosmetics, and wine and spirits. Profit fell 4% to EUR 8.69 billion ($9.88 billion).

Image: A Bulgari store in Tokyo, Japan. (Shutterstock)