LVMH Moët Hennessy Louis Vuitton, the French luxury conglomerate, reported a 5 percent decrease in revenue from its watch and jewelry division during the first nine months of 2024, totaling $8.2 billion.
Overall, LVMH’s revenue across all 75 of its brands fell by 2 percent during the same period, reaching $66.1 billion. Despite these declines, the company expressed “good resilience” and maintained confidence amid a challenging economic and geopolitical landscape.
LVMH emphasized its commitment to enhancing the appeal of its brands. The company plans to focus on the authenticity and quality of its products, excellence in distribution, and an agile organizational structure.
In 2023, LVMH’s eight watch and jewelry brands—Bvlgari, Chaumet, Fred, Hublot, Repossi, Tag Heuer, Tiffany & Co., and Zenith—generated a combined revenue of $11.8 billion. However, LVMH does not disclose earnings on a brand-by-brand basis.
The company noted that the revenue decline in the third quarter was primarily influenced by a stronger yen and slower growth in Japan.
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