Editor’s Note
This article highlights a 1% annual revenue decline in LVMH’s watches and jewelry division for 2025, attributed to broader economic uncertainty. The dip occurred despite a reported positive performance in the final quarter.
Sales of jewelry and watches at LVMH slid in 2025 amid economic uncertainty.
Revenue from the segment fell 1% to EUR 10.49 billion ($12.57 billion) for the full year, LVMH said Tuesday. The decline came despite a positive performance in the fourth quarter.
Bulgari had another “record year,” as its new Polychroma high-jewelry collection generated record sales, and the brand opened new flagship stores in key markets. Chaumet also had a good year, LVMH added.
Organic sales — which assume a comparable structure and constant exchange rates — for jewelry and watches rose 3%. Profit from recurring operations for the category slipped 2% to EUR 1.51 billion ($1.81 billion).
Group revenue dropped 5% on a reported basis and was down 1% on an organic basis to EUR 80.81 billion ($96.88 billion) for the full year, while net profit decreased 13% to EUR 10.88 billion ($13.02 billion).
In the fourth quarter, revenue from jewelry and watches grew 8% to EUR 3.08 billion ($3.69 billion).
Image: A Bulgari store in Milan, Italy. (Shutterstock)