LVMH’s overall performance remains strong, maintaining stability in both consolidated and currency-adjusted figures. However, its Watches & Jewellery division reported a 5% decline in revenue, totaling €7.53 billion during the recent period.
This dip in the Watches & Jewellery segment is attributed to broader economic uncertainties and changing consumer demand in key global markets. Despite these challenges, LVMH’s jewellery brands showcased remarkable resilience. They achieved this through impactful marketing campaigns, product launches, and notable celebrations, successfully engaging the luxury market.
One of the top performers, Tiffany & Co., balanced its rich heritage with modern innovation in 2024. The brand’s global campaign, “With Love, Since 1837,” highlighted its iconic designs. Additionally, the new Tiffany Titan collection, created with musician Pharrell Williams, appealed to contemporary consumers. Tiffany also marked the 50th anniversary of Elsa Peretti’s timeless creations, reinforcing its reputation for exceptional craftsmanship. The rollout of Tiffany’s redesigned retail concept further enhanced the luxury shopping experience worldwide.
Bulgari, another prominent brand in LVMH’s portfolio, celebrated its 140th anniversary with style. Its “Eternally Reborn” campaign featured stars like Zendaya, Anne Hathaway, and Yifei, broadening Bulgari’s appeal. To commemorate the milestone, Bulgari introduced the Tubogas collection, a modern interpretation of its iconic 1940s design, emphasizing bold yellow gold pieces.
Chaumet, LVMH’s distinguished jewellery house, also had a significant year, notably as the official jeweller of the Paris 2024 Olympic and Paralympic Games. Chaumet’s design studio crafted the medals for the Games, skillfully merging French craftsmanship with the brand’s rich heritage, increasing its visibility in key markets.
Despite the revenue decline, LVMH’s Watches & Jewellery division is well-positioned for long-term growth. Its brands continue to connect with consumers through innovative designs and memorable campaigns. As the luxury market evolves, LVMH’s strategic investments in its heritage brands help ensure its status as a leading player in the global jewellery and watch sectors.
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