LVMH’s Watches & Jewellery division reported a slight slowdown in the opening quarter of 2026, with revenue slipping 2% to €2.44 billion. Beneath the surface, however, the business told a more nuanced story, posting 7% organic growth that points to steady underlying demand despite currency fluctuations and an uneven global backdrop.
Within the portfolio, Tiffany & Co. emerged as a key driver, buoyed by continued interest in its HardWear collection and ongoing upgrades across its retail network. The brand also sharpened its visibility with a new campaign fronted by Natalie Portman, alongside high jewellery presentations staged in Gstaad and Beijing.
At Bvlgari, growth was anchored by enduring demand for Serpenti and Tubogas, while the introduction of Eclettica signalled a fresh creative chapter across both jewellery and watchmaking. Chaumet, meanwhile, continued to build on the momentum of its Bee de Chaumet line, strengthening its position across core offerings.
Taken together, the quarter reflects a business adjusting to external pressures rather than losing pace, with brand-led momentum continuing to steady performance across LVMH’s jewellery portfolio.