Luxury jewellery retains sparkle in Q1 2026

Demand for top-tier luxury brands continued to fuel jewellery sales, as Kering delivered solid first-quarter gains while LVMH saw a dip in reported results offset by a 7 per cent organic growth.

Luxury jewellers owned by Kering posted a 22 per cent revenue increase to a record level of €269 million (around US$317.2 million), with key regions driving growth, led by Japan and Asia Pacific.

“Kering Jewelry delivered an outstanding performance,” the group said. “Brand traction was particularly solid at Boucheron, which delivered the strongest growth in the group this quarter.”

Other jewellers also reported a solid outcome: Pomellato benefitted from steady sales in Japan and the success of its key collections; DoDo extended several quarters of sustained growth; and Qeelin recorded a strong Asia-driven performance.

During the quarter, Kering launched Kering Jewelry, a new entity designed to structure and accelerate the growth of the group’s jewellery business, and named Jean-Marc Duplaix as its CEO.

By end-March, Kering completed its initial acquisition of a 20 per cent stake in European luxury jewellery manufacturer Raselli Franco Group for a total consideration of €115 million (approximately US$135.58 million).

Jewellery was still a top performer at LVMH, with the segment reporting a slight year-on-year dip in first-quarter revenues of 2 per cent to €2.44 billion (about US$3 billion) amid a 7 per cent organic growth.

LVMH noted its jewellery houses’ “excellent performance” and the “very strong success of iconic lines.”

“Tiffany achieved an excellent performance, successfully renovating its store network and strengthening its iconic product lines, with HardWear in particular posting very strong growth,” revealed LVMH.

Highlights of the quarter for Tiffany included the launch of a marketing campaign featuring Hollywood star Natalie Portman as new global brand ambassador, and its latest high jewellery collections being showcased in Gstaad and Beijing.

Bulgari, meanwhile, achieved robust growth and unveiled its new high jewellery collection, Eclettica. Its iconic Serpenti and Tubogas lines performed well, too. Sales at Chaumet gained momentum from the expansion of its Bee de Chaumet Collection, added LVMH.


News by @JNA