LVMH posts strong half-year as Tiffany, Bulgari fuel growth

LVMH reported on Monday that its Watches & Jewellery division was the fastest-growing segment of its business in the first half of 2026, posting sales of €5.23 billion with organic revenue growth of 9% over the same period last year. The division accelerated further in the second quarter, with sales up 11% year-over-year, driven by standout performances from Tiffany & Co. and Bulgari.jckonline+1

Tiffany's Transformation Bears Fruit

Tiffany's iconic HardWear and Knot collections grew by approximately 75% and 50% respectively over the six-month period, according to LVMH chief financial officer Cécile Cabanis. "Tiffany's transformation is bearing fruit, with the strength of its icons growing even stronger quarter after quarter," Cabanis said during a media presentation.finance.yahoo+2

The brand also received an "excellent" reception for its Blue Book 2026 high jewelry collection, Hidden Garden, and benefited from its ongoing store revitalization program, with most locations now complete. LVMH hinted at a "high-impact" initiative focused on Tiffany's Bird on a Rock line in the second half of the year.jckonline

Bulgari and High Jewelry Demand

Bulgari posted results that were "even" across geographic regions, Cabanis noted, with its Serpenti icons gaining momentum and new jewelry lines off to a strong start. The brand's Eclettica high jewelry collection overperformed in the second quarter, while its new Vimini line was deemed a successful debut. Bulgari's watches, including the Octo Finissimo 37 mm presented at Watches and Wonders, also performed well.jckonline

Broader Recovery in Luxury

The results come amid a broader recovery in the luxury watch and jewelry sector. Richemont reported sales up 20% in its first quarter of 2026, while the Swatch Group indicated an 8.5% increase in its half-year report. LVMH's overall group revenue reached €38.6 billion in the first half, up 2% organically, with second-quarter growth accelerating to 3%. U.S. luxury shoppers were a key driver, while Asia excluding Japan saw strong growth confirming improved trends from late 2025.globenewswire+3

"While continuing to pay very close attention to margins, we are entering the second half of the year with renewed confidence in the long-term potential of our maisons," LVMH chairman Bernard Arnault said.jckonline