Tiffany Performs “Extremely Well” as LVMH’s Revenue Soars in H1 2021
LVMH, owner of global luxury jewelry brands including Louis Vuitton, Christian Dior, Sephora, Fendi and Tiffany, has reported that its sales “more than trebled” to $4.75 billion in the first half of 2021, IDEX Online reports.
Tiffany & Co, LVMH’s most recent acquisition, performed “extremely well.” The French conglomerate said: “The first half saw the integration for the first time of iconic jewelry maison Tiffany, which has benefited from the new team’s focus on its iconic products.”
LVMH’s watches and jewelry business group recorded an organic revenue growth of 71% year-on-year in H1 2021, and 5% when compared to the same period in 2019. Bernard Arnault, chairman and CEO, said LVMH had enjoyed “an excellent half-year.”