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After a year of declines, sales of watches and jewelry at luxury giant LVMH rebounded in the latest quarter and continued to shine into January, according to several of the company’s brand CEOs. In its earnings call this week, LVMH reported that sales for its watches and jewelry group increased 3%, after falling in the previous quarters. The division outperformed the company’s core fashion and leather goods segment, which was down 1% during the quarter, as well as wine and spirits, which declined 8%. In interviews during LVMH Watch Week in New York, the CEOs of several of the conglomerate’s watch and jewelry brands said they’re increasingly optimistic about 2025. While China remains slow, they said a rebound in spending by Americans — both in the U.S. and Europe — is driving strong demand for both watches and jewelry. “I have to say that I’ve been positively surprised by the start of the year,” said Jean-Christophe Babin, CEO of Bulgari, which is owned by LVMH. Get Inside Wealth directly to your inbox Anthony Ledru, the CEO of Tiffany & Co., which LVMH acquired in 2021, said he’s also seeing renewed consumer confidence among the American wealthy after the U.S. presidential election. “I think it brings clarity and probably a greater consumer confidence,” Ledru said. “We need that feel-good factor to succeed in the luxury world.” Of course, there are risks to the bright outlook. U.S. tariffs are the big unknown for high-end watches, which are mostly made in Switzerland, as well as for French luxury goods. The Trump administration has threatened across-the-board tariffs in Europe. Yet for now, watch and jewelry makers are launching a barrage of new products in hopes of a strong 2025. Louis Vuitton’s watch division launched its new “Tambour Taiko Spin Time” collection, which features “jumping…

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Filed under: News - @ January 31, 2025 1:26 pm