The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic environment and a slowdown in consumer activity in China.
Between January and September, the division’s revenue reached €7.73 billion, up from €7.41 billion during the same period the previous year. Organic growth in the third quarter stood at 6%, reflecting continued positive momentum in the jewellery segment. Across the entire group, LVMH reported revenue of €57.1 billion for the nine-month period, with organic growth of 2%.
Tiffany & Co. strengthened its established collections - notably HardWear, Knot, and Sixteen Stone - while continuing to modernize its retail network. The Blue Book 2026: Hidden Garden jewellery collection, originally unveiled in New York, was showcased in Venice during the autumn season.
Bvlgari also reported strong results, with its Eclettica jewellery line and prestigious watch collections generating record revenue. The brand continued to boost the visibility of its signature Serpenti design through a monumental installation in New York, while its Kaleidos exhibition travelled to Shanghai.
Chaumet continued to develop its Bee de Chaumet collection, reinforcing the division's focus on creating distinctive designs and established product lines. The results point to jewellery as a key growth driver for LVMH amidst uneven performance across various luxury categories. The Fashion & Leather Goods division recorded a 5% organic revenue decline in the third quarter, while sales of watches and jewellery continued to rise.
LVMH reported that a slowdown in China negatively impacted its business during the third quarter, whereas solid growth was observed in the US, Europe, and Japan.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
