Pins matching tag:Jewellery

LVMH finalized its purchase of Tiffany & Co. at $131.50 a share in cash, a total of $15.8 billion, and immediately named Anthony Ledru as Tiffany's CEO and Alexandre Arnault as its product and communications chief.

Chanel opened a two-story, 3,200-square-foot boutique dedicated entirely to Watches and Fine Jewellery at 730 Fifth Avenue in Manhattan's landmark 1921 Crown Building, its first store of this kind in the United States.

Anglo American said De Beers is "to be divested or demerged" as part of a radical portfolio simplification, with CEO Duncan Wanblad saying he expected a sale to complete by the end of 2025 - a timeline the diamond market's slump has since pushed well past.

De Beers Group said it intends to close Lightbox, the lab-grown diamond jewellery brand it launched in 2018, after wholesale lab-grown prices fell 90% and diverged sharply from natural diamonds.

Van Cleef & Arpels opened a 250-piece exhibition of patrimonial and private-collection jewels at Tokyo's Teien Art Museum, marking the centenary of the Maison's grand prize at the 1925 Paris Art Deco exposition.

Bulgari presented Eclettica, a 160-piece high-jewelry, watch, bag and fragrance collection built around nine Capolavori masterpieces, at a gala inside Milan's 17th-century Villa Arconati attended by Anne Hathaway, Dua Lipa and Jake Gyllenhaal.

LVMH's first-quarter 2026 revenue fell 6% on a reported basis to €19.1 billion, though organic revenue still grew 1%, as the group said the conflict in the Middle East cut about a point off underlying growth.

Richemont's group sales rose to €22.4 billion, up 11% at constant exchange rates, with operating profit of €4.5 billion for the year ended 31 March 2026, led by its Jewellery Maisons Cartier and Van Cleef & Arpels.

LVMH's first-half 2026 revenue was €38.6 billion, down 3% on a reported basis, as organic revenue rose 2% and growth accelerated to 3% organically in the second quarter, with net profit steady at €5.7 billion.

Signet Jewelers, the parent of Kay, Zales and Jared, posted $1.5 billion of quarterly sales on 2.2% same-store-sales growth, more than tripled operating income to $87.5 million, and raised its full-year adjusted profit guidance by over 10%.