While the group’s overall performance remained robust, maintaining stability on a constant consolidation scope and currency basis, its Watches & Jewellery division experienced a 5% decline in revenue, posting €7.53 billion during the period.
The slight dip in the Watches & Jewellery segment comes amid broader economic uncertainty and fluctuations in demand, especially in key global markets. Nevertheless, LVMH’s jewellery brands demonstrated remarkable resilience through impactful campaigns, product launches, and milestone celebrations, continuing to captivate the luxury market.
Among the standout performers was ‘Tiffany & Co.’, which combined heritage and innovation in 2024. The brand’s global ‘With Love, Since 1837’ campaign spotlighted its iconic designs, while the new ‘Tiffany Titan collection’, crafted in collaboration with musician and designer Pharrell Williams, resonated with modern consumers. Furthermore, Tiffany celebrated the 50th anniversary of Elsa Peretti’s iconic creations, cementing its position as a leader in timeless craftsmanship. The ongoing rollout of Tiffany’s reimagined retail concept also enhanced the luxury shopping experience across global markets.
‘Bulgari’, another iconic brand under LVMH’s portfolio, celebrated its 140th anniversary with grandeur. The brand’s “Eternally Reborn” campaign, featuring global stars like Zendaya, Anne Hathaway, and Yifei, further expanded Bulgari’s reach and appeal. To commemorate its anniversary, Bulgari launched the ‘Tubogas collection’, a modern take on the house’s iconic 1940s design, which brought bold yellow gold designs to the forefront of its luxurious offerings.
LVMH’s storied jewellery maison, ‘Chaumet’, also had a notable year, particularly as the official jeweller of the Paris 2024 Olympic and Paralympic Games. Chaumet’s design studio created the medals for the Games, beautifully intertwining French craftsmanship with the brand’s long-standing heritage, amplifying its visibility across key markets.
Despite the slight downturn in revenue, LVMH’s Watches & Jewellery division remains poised for long-term growth, with its brands continuing to resonate strongly with consumers through innovative designs and unforgettable campaigns. As the luxury landscape adapts to shifting market dynamics, LVMH’s strategic investments in its heritage brands ensure that it remains a dominant player in the global jewellery and watch sectors.
