LVMH has signalled a tougher opening for its jewellery and watch business, with revenue at the watches & jewellery group slipping in the first quarter amidst disruptions linked to the Middle East conflict and weaker tourist spending in Europe and Japan.
In its official report, LVMH said that while it delivered overall momentum and maintained organic growth across the group, performance in March weighed on the quarter. The company noted that the Middle East conflict had a negative impact of around one percent on organic growth for the period.
More specifically for jewellery and timepieces, LVMH reported organic revenue growth of 7 percent for watches & jewellery, driven by brands including Tiffany, Bulgari, Chaumet and key innovations at LVMH Watch Week in Milan. Tiffany continued to renovate its store network and strengthen signature lines such as HardWear, alongside the launch of a marketing campaign starring global ambassador Natalie Portman and the presentation of new high jewellery collections in Gstaad and Beijing. Bulgari delivered strong growth with Eclettica, while Chaumet benefited from expanding its Bee de Chaumet collection.
However, there was a year-on-year decline in sales in the segment, with first-quarter watch-and-jewellery revenue down two percent to 2.44 billion euros, reflecting the volatile travel environment.
27-04-2026
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