PRESS RELEASE: Jewellery leads growth at LVMH as fashion slows

LVMH’s Watches & Jewelry division was the group’s fastest-growing business in the first nine months of 2026, with Tiffany & Co. and Bvlgari driving an 8% rise in organic revenue.

Jewellery has proved the strongest part of the LVMH business so far this year. In its results for the first nine months of 2026, published on 12 October, the luxury group reported Watches & Jewelry revenue of €7.73 billion, up from €7.41 billion a year earlier. That is 4% growth on a reported basis and 8% organic growth, which excludes currency and acquisition effects. LVMH said the performance was driven by “very good” results in jewellery.

The division grew in every quarter of the year: 7% in the first quarter, 11% in the second and 6% in the third, when revenue reached €2.50 billion against €2.32 billion a year earlier.

That compares with modest growth for the group as a whole. LVMH’s total revenue for the nine months was €57.1 billion, 2% higher on an organic basis and 2% lower on a reported basis. Fashion & Leather Goods, the group’s largest business, fell 2% organically, hit by slowing demand in China in the third quarter. The United States, Europe and Japan all saw good growth.

Tiffany and Bvlgari to the fore

At Tiffany & Co., LVMH highlighted the continued strengthening of its signature lines, particularly HardWear, Knot and Sixteen Stone, alongside the renovation of its store network. Its Blue Book 2026: Hidden Garden high jewellery collection, launched in New York, presented its autumn chapter in Venice.

Bvlgari unveiled Eclettica, a new line of high jewellery and prestige watches that achieved record-breaking revenue. The house also took its Kaleidos exhibition to Shanghai and unveiled a monumental installation in New York celebrating its Serpenti design.

Chaumet continued to develop its Bee de Chaumet collection, while in watches, TAG Heuer kept a high profile in Formula 1, including as title partner of the Grand Prix in Madrid.

Looking ahead, LVMH said it remains confident despite an uncertain economic and geopolitical climate, and will keep focusing on the desirability of its brands, the authenticity and quality of its products and its retail excellence.

About LVMH Watches & Jewelry

LVMH’s Watches & Jewelry division comprises Bvlgari, TAG Heuer, Tiffany & Co., Chaumet, Zenith, Fred, Hublot and L’Epée. LVMH Moët Hennessy Louis Vuitton is the world’s leading luxury goods group, with businesses spanning wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewellery, and selective retailing.

Find out more: lvmh.com