Luxury conglomerate LVMH Moët Hennessy Louis Vuitton reported strong rebound in jewellery sales in the first half of 2021 on the back of solid performances of its high-end jewellers, including newly acquired Tiffany & Co.

Revenues from its luxury jewellery and watch arm during the first six months of the year rose 71 per cent year on year to €4.02 billion (around US$4.75 billion). This has also exceeded 2019 figures by 5 per cent.

The group attributed the growth largely to strong recovery in buying activity at its stores as well as the addition of Tiffany to its brand portfolio. LVMH purchased the US jeweller for US$15.8 billion earlier this year. 

Group revenues climbed 56 per cent to €28.7 billion (around US$33.88 billion) in the first half, led by its Fashion & Leather Goods and Watches & Jewellery businesses.

“The first half saw the integration for the first time of iconic jewellery maison Tiffany, which has benefited from the new team’s focus on its iconic products,” said the group. It also mentioned an “excellent semester” for Tiffany, with strong momentum particularly in Asia and the US.

During the period in review, Tiffany introduced its first engagement ring for men, the Charles Tiffany Setting. It also presented its Blue Book of high-end jewellery pieces in China.

Bulgari likewise posted growth, particularly in its network of own stores. The luxury jeweller also unveiled its latest Magnifica high-end jewellery collection in June. Chaumet, for its part, inaugurated its new exhibition “Joséphine et Napoléon.” 

Moving forward, LVMH said Tiffany is preparing to launch a new gold jewellery collection while Bulgari is planning to update its Diva’s Dream and Bzero1 lines, as well as inaugurate a renovated store at Place Vendôme in Paris. LVMH is also aiming to launch fresh digital initiatives.