LVMH Jewellery & Watch Sales Fall 5% To €2.58 Billion In Q1

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LVMH Jewellery & Watch Sales Fall 5% To €2.58 Billion In Q1
Dior Joaillerie © LVMH / Alex Majoli

Luxury behemoth LVMH Moët Hennessy Louis Vuitton registered a 5% decline in jewellery and watch sales to €2.589 billion for Q1 2024 compared with a year ago.

The group said Tiffany & Co. continued the global rollout of its new store concept inspired by The Landmark in New York, where it launched its first exhibition, Culture of Creativity, celebrating the brand’s long-standing commitment to artistic excellence. A comprehensive communication campaign, showcasing its icons, has just been launched worldwide and has met with great success.

Bulgari continued to showcase the iconic Serpenti and relaunch its B.zero1 collection. The luxury jeweller announced the launch of Fondazione Bulgari, a foundation dedicated to preserving cultural and craft heritage, and to passing on skills in Italy.

Chaumet unveiled the medals for the Paris 2024 Olympic and Paralympic Games, created by the maison’s design studio, and Fred launched its new “Sunshine Jeweler” communication campaign during Q1.

The company said, “In an uncertain geopolitical and economic environment, LVMH remains both vigilant and confident at the start of the year. The Group will continue to pursue its strategy focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its products, their desirability and their distribution.”

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