Global: Amid ongoing Middle East conflicts that have disrupted businesses worldwide, LVMH SE (LVMH), one of the world’s leading luxury conglomerates, has also felt the impact. Yet, its jewellery maisons — Tiffany & Co, Bulgari and Chaumet have emerged as standout performers.
The group reported a decline in first-quarter sales, with revenue from its watches and jewellery division slipping 2% year-on-year (YoY) to EUR 2.44 billion ($2.88 billion) for the three months ended 31 March 2026, according to reports. The slowdown was partly attributed to softer tourist spending across key markets.
Despite this modest downturn, resilience was evident across its leading jewellery houses. Tiffany & Co delivered a positive performance, supported by its global brand ambassador Natalie Portman campaign and the launch of its latest high jewellery collection. Bulgari maintained strong momentum with the introduction of Eclettica, a new line of high jewellery and high-end watches. Meanwhile, Chaumet benefited from the continued expansion of its Bee de Chaumet collection.
Overall, the total group revenue dropped by 6% to EUR 19.12 billion ($22.54 billion) during the quarter. Europe and Japan experienced an offsetting decline in tourist spending, but the rest of Asia saw stronger growth, reinforcing the trend of improvement the company had seen since the second half of last year. Sales in the US were solid.
Founded in 1987 and headquartered in Paris, LVMH is a France-based global luxury leader with a portfolio of over 75 prestigious brands spanning fashion, jewellery, watches, wines and spirits, and cosmetics. The group continues to hold its position as the world’s largest luxury company.
