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	<title>LVMH | News, Analysis &amp; Commentary</title>
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	<link>https://www.jewelleryfocus.co.uk</link>
	<description>UK&#039;s most-read jewellery trade magazine</description>
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	<title>LVMH | News, Analysis &amp; Commentary</title>
	<link>https://www.jewelleryfocus.co.uk</link>
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		<title>Hettich Jewellers appoints new chief operating and marketing officer</title>
		<link>https://www.jewelleryfocus.co.uk/223234-hettich-jewellers-appoints-new-chief-operating-and-marketing-officer</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Fri, 25 Jul 2025 15:10:45 +0000</pubDate>
				<category><![CDATA[Retailers]]></category>
		<category><![CDATA[Branding]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Patek Philippe]]></category>
		<category><![CDATA[Rolex]]></category>
		<category><![CDATA[Tag Heuer]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=223234</guid>

					<description><![CDATA[Hettich Jewellers in Jersey has appointed Kristen Kelby as its new chief operating and marketing officer. Kelby brings more than 20 years of marketing and leadership experience across the luxury, retail and drinks sectors.  She previously served as global managing partner for employer branding and marketing at Chapter 2, where she led strategic communications and &#8230;]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">Hettich Jewellers in Jersey has appointed Kristen Kelby as its new chief operating and marketing officer.</span><span id="more-223234"></span></p>
<p><span style="font-weight: 400;">Kelby brings more than 20 years of marketing and leadership experience across the luxury, retail and drinks sectors. </span></p>
<p><span style="font-weight: 400;">She previously served as global managing partner for employer branding and marketing at Chapter 2, where she led strategic communications and brand development.</span></p>
<p><span style="font-weight: 400;">Earlier roles include managing director at Armit Wines, interim managing director at Illycaffè, and chief marketing officer at Berry Bros. and Rudd, where she also served briefly as interim chief executive.</span></p>
<p><span style="font-weight: 400;">She has also held senior marketing roles at Tag Heuer, Aquascutum, French Connection and Nicole Farhi, along with consultancy posts focused on brand strategy in luxury and retail. Her early career included international operations and licensing positions at Paul Smith and Overland.</span></p>
<p><span style="font-weight: 400;">Hettich Jewellers, currently marking its 125th year at 1 King Street, has recently opened a new flagship store at 2 King Street.</span></p>
<p><span style="font-weight: 400;">Kelby said: “Having a strong appreciation for the unique character and legacy of family-led businesses, and having previously worked closely with Hettich as a consultant, taking on this exciting new role feels incredibly special. Now in its 125th year, Hettich is a business steeped in heritage but one with a bold, modern, future-focused approach.</span></p>
<p><span style="font-weight: 400;">“Hettich proudly represents internationally renowned brands such as Patek Philippe and Rolex, and with my background at LVMH and Tag Heuer, it’s a real pleasure to be stepping back into this world. I&#8217;m absolutely thrilled to be joining as chief operating and marketing officer, helping to support the next phase of this celebrated brand&#8217;s journey.”</span></p>
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		<title>Responsible Jewellery Council elects new board members</title>
		<link>https://www.jewelleryfocus.co.uk/221839-responsible-jewellery-council-elects-new-board-members</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Thu, 05 Jun 2025 14:27:22 +0000</pubDate>
				<category><![CDATA[Appointments]]></category>
		<category><![CDATA[Chanel]]></category>
		<category><![CDATA[CIBJO]]></category>
		<category><![CDATA[De Beers]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Responsible Jewellery Council]]></category>
		<category><![CDATA[Sustainability]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=221839</guid>

					<description><![CDATA[The Responsible Jewellery Council has elected seven new and returning members to its board of directors following recent elections for the 2025 term. Purvi Shah from De Beers Group and Gaetano Cavalieri from CIBJO were re-elected to represent the producer and trade association forums respectively. Meanwhile, Antonio Samaniego of Minera Chalhuane joined Shah in the &#8230;]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400">The Responsible Jewellery Council has elected seven new and returning members to its board of directors following recent elections for the 2025 term.</span><span id="more-221839"></span></p>
<p><span style="font-weight: 400">Purvi Shah from De Beers Group and Gaetano Cavalieri from CIBJO were re-elected to represent the producer and trade association forums respectively. Meanwhile, Antonio Samaniego of Minera Chalhuane joined Shah in the producer forum as a new board member.</span></p>
<p><span style="font-weight: 400">New appointments also included Aagam Sanghavi of Accur8 Diamonds for the diamonds and gemstones trader/cutter/polisher forum, Alice Vanni of Italpreziosi for the precious metals traders, refiners and hedgers forum, and Leo Daguet of LVMH for the jewellery and watch manufacturer/wholesaler forum.</span></p>
<p><span style="font-weight: 400">Additionally, Marianne Zani of Chanel was elected to represent the jewellery and watch retailer forum, while Didier Backaert of Bonas joined the board through the service industries forum.</span></p>
<p><span style="font-weight: 400">The newly elected board members will be responsible for guiding the organisation&#8217;s strategic direction and ensuring its standards continue to meet the expectations of consumers, stakeholders, and the wider community. </span></p>
<p><span style="font-weight: 400">Dave Meleski, RJC chairman, said: &#8220;We are thrilled to welcome our new and returning Board members. Their collective experience across the entire jewellery and watch value chain will be invaluable as we continue to drive positive change and uphold the highest standards of integrity and sustainability within our industry. This diverse representation ensures that the RJC remains responsive to the needs and challenges of all our members.&#8221; </span></p>
<p><span style="font-weight: 400">John Hall, interim executive director, added: &#8220;The dedication and commitment of these individuals to the principles of responsible business are truly inspiring. We look forward to working collaboratively with them to advance the RJC&#8217;s mission and ensure that the jewellery and watch industry continues to be a force for good in the world. Their insights and leadership will be crucial as we navigate the evolving landscape of sustainability and ethical practices.&#8221; </span></p>
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		<title>Chaumet commits to traceability with new Bee de Chaumet pendant</title>
		<link>https://www.jewelleryfocus.co.uk/221143-chaumet-commits-to-traceability-with-new-bee-de-chaumet-pendant</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Fri, 23 May 2025 14:58:57 +0000</pubDate>
				<category><![CDATA[Retailers]]></category>
		<category><![CDATA[Chaumet]]></category>
		<category><![CDATA[Ethical Jewellery]]></category>
		<category><![CDATA[Gold]]></category>
		<category><![CDATA[Kimberley Process]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Packaging]]></category>
		<category><![CDATA[Pendant]]></category>
		<category><![CDATA[Responsible Jewellery Council]]></category>
		<category><![CDATA[Responsible Sourcing]]></category>
		<category><![CDATA[Sustainability]]></category>
		<category><![CDATA[Traceability]]></category>
		<category><![CDATA[Transparency]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=221143</guid>

					<description><![CDATA[Chaumet has launched its new Bee de Chaumet pendant, crafted entirely from 100% responsibly sourced gold that is fully traceable from mine to finished piece, marking a significant step forward in the brand’s commitment to “exemplary” environmental responsibility. The pendant illustrates Chaumet’s desire to drive enhancements to ethical jewellery standards, combining “excellence”, “transparency” and “sustainability”.   &#8230;]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400">Chaumet has launched its new Bee de Chaumet pendant, crafted entirely from 100% responsibly sourced gold that is fully traceable from mine to finished piece, marking a significant step forward in the brand’s commitment to “exemplary” environmental responsibility.</span><span id="more-221143"></span></p>
<p><span style="font-weight: 400">The pendant illustrates Chaumet’s desire to drive enhancements to ethical jewellery standards, combining “excellence”, “transparency” and “sustainability”.  </span></p>
<p><span style="font-weight: 400">According to Chaumet, nature has been at the “heart of Chaumet’s identity since its founding more than 240 years ago”. </span></p>
<p><span style="font-weight: 400">The maison is a member of the Responsible Jewellery Council and conforms to the Kimberley Process, and actively contributes to the momentum of the LVMH Group’s LIFE 360 environmental programme through a host of concrete initiatives. </span></p>
<p><span style="font-weight: 400">As part of its responsible sourcing strategy, in 2025, it joined the Swiss Better Gold Association (SBGA), an organisation that supports artisanal mines in their sustainable development.</span></p>
<p><span style="font-weight: 400">Additionally, Chaumet is already a partner of Reforest’Action and works to minimise its greenhouse gas emissions and the impact of its packaging. </span></p>
<p><span style="font-weight: 400">Now the jeweller is going even further by guaranteeing total traceability of the gold used in the new pendant creation. </span></p>
<p><span style="font-weight: 400">The pendant, embellished with a bee motif, as well as the chain, clasp and rings are made from 100% traceable gold derived from sustainable sources. </span></p>
<p><span style="font-weight: 400">Across the entire value chain, from the mine to the final creation of the jewellery, each step of the gold sourcing process is 100% verified, in accordance with strict specifications. </span></p>
<p><span style="font-weight: 400">Chaumet is therefore able to ensure that every gramme of gold making up the pendant comes from sources carefully selected in collaboration with trusted partners. </span></p>
<p><span style="font-weight: 400"> </span><span style="font-weight: 400">This step towards more ethical jewellery concretely advances Chaumet’s goal of progressively rolling out this principle across all its jewellery and High Jewellery collections.</span></p>
<p><span style="font-weight: 400">Chaumet said: “Ambitious and assured, these multiple actions demonstrate the extent to which meaningful Chaumet jewellery is much more than just jewellery, the extent to which humans and nature are at the heart of all its projects and creations.” </span></p>
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		<title>Fiskars appoints ex-Louis Vuitton president as Vita CEO</title>
		<link>https://www.jewelleryfocus.co.uk/219977-fiskars-appoints-ex-louis-vuitton-president-as-vita-ceo</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Thu, 03 Apr 2025 13:48:18 +0000</pubDate>
				<category><![CDATA[Appointments]]></category>
		<category><![CDATA[Georg Jensen]]></category>
		<category><![CDATA[Louis Vuitton]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[Watches]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=219977</guid>

					<description><![CDATA[Global lifestyle brand Fiskars Group has appointed ex-Louis Vuitton president Daniel Lalonde as the new CEO of Business Area Vita and a member of the Fiskars Group leadership team. In his new role, Lalonde will oversee Vita, Friskars Group’s luxury jewellery division, which features an extensive portfolio including brands like Georg Jensen and Waterford. He &#8230;]]></description>
										<content:encoded><![CDATA[<p>Global lifestyle brand Fiskars Group has appointed ex-Louis Vuitton president Daniel Lalonde as the new CEO of Business Area Vita and a member of the Fiskars Group leadership team.<span id="more-219977"></span></p>
<p>In his new role, Lalonde will oversee Vita, Friskars Group’s luxury jewellery division, which features an extensive portfolio including brands like Georg Jensen and Waterford.</p>
<p>He will assume his role on 14 April 2025, reporting to Fiskars Group’s president and CEO, Nathalie Ahlström.</p>
<p>He has worked in CEO positions in Flos B&amp;B Italia Group, SMCP (Sandro, Maje, Claudie Pierlot and Fursac) and Ralph Lauren.</p>
<p>Prior to these positions, he had a 10-year career at the LVMH Group, working as president and CEO of LVMH Watches and Jewellery North America, president and CEO of Louis Vuitton North America and as global president and CEO of Moët and Chandon and Dom Perignon.</p>
<p>Lalonde said: “I am thrilled to join Fiskars Group and Vita which has an outstanding portfolio of heritage brands in the luxury and premium categories. With brands such as Georg Jensen, Royal Copenhagen, Wedgwood, Waterford, Iittala and many more, there is incredible potential to increase consumer desire and further develop these brands into global design icons.”</p>
<p>Ahlström, Fiskars Group’s president and CEO, added: “I am excited to welcome Daniel to our team as the new CEO of Vita. Daniel is a perfect fit to lead Vita, considering his extensive experience from CEO roles in world-class luxury and consumer brands, both in Europe and the United States.</p>
<p>“During the recent years and in line with our strategy, Vita has gone through a genuine transformation. We have carefully built foundations and I am convinced that Daniel will bring visionary leadership to Vita to tap into long-term growth opportunities.”</p>
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		<title>Pandora appoints new GM in British Isles</title>
		<link>https://www.jewelleryfocus.co.uk/219182-pandora-appoints-new-gm-in-british-isles</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Thu, 06 Mar 2025 14:56:39 +0000</pubDate>
				<category><![CDATA[Retailers]]></category>
		<category><![CDATA[Appointment]]></category>
		<category><![CDATA[London]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Pandora]]></category>
		<category><![CDATA[Sustainability]]></category>
		<category><![CDATA[Switzerland]]></category>
		<category><![CDATA[York]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=219182</guid>

					<description><![CDATA[Global jewellery brand Pandora has announced the appointment of Nicole Clayton as general manager of the British Isles as of 1 April 2025. Clayton’s appointment comes as former general manager Sonia Lopez Delgado steps down from the role due to personal reasons. Clayton, who has experience working with global consumer goods and fashion brands, most &#8230;]]></description>
										<content:encoded><![CDATA[<p>Global jewellery brand Pandora has announced the appointment of Nicole Clayton as general manager of the British Isles as of 1 April 2025.<span id="more-219182"></span></p>
<p>Clayton’s appointment comes as former general manager Sonia Lopez Delgado steps down from the role due to personal reasons.</p>
<p>Clayton, who has experience working with global consumer goods and fashion brands, most recently served as the global chief digital officer for leading FMCG brand Nestlé Nespresso in Switzerland.</p>
<p>Prior to that, she was CEO Americas of fashion denim brand G-Star Inc and served as global vice president at the American footwear company Caleres.</p>
<p>She also worked with other global brands such as LVMH, Aritzia, and Bottega Veneta.<br />
Clayton is originally from New York but is currently based in Switzerland. She will relocate to London for her new role at Pandora.</p>
<p>Clayton said: “I have been watching Pandora&#8217;s incredible journey and transformation, and I am impressed by the continued commitment to craftsmanship, creativity, and sustainability. I am thrilled to join the team and to contribute to the continued evolution and success of the world’s largest jewellery brand.”</p>
<p>Massimo Basei, chief commercial officer, added: “Nicole’s expertise in leadership, building high-performance teams, and driving transformative change makes her the perfect fit for Pandora. She has extensive experience from leading consumer brands, and I am confident that she will bring fresh energy and valuable insights to the team as they continue to elevate our brand’s desirability and drive growth.”</p>
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		<title>Tiffany and Co unveils LVMH Watch Week 2025 novelties</title>
		<link>https://www.jewelleryfocus.co.uk/218773-tiffany-and-co-unveils-lvmh-watch-week-2025-novelties</link>
		
		<dc:creator><![CDATA[Liam J Moran]]></dc:creator>
		<pubDate>Tue, 21 Jan 2025 16:59:44 +0000</pubDate>
				<category><![CDATA[Designers]]></category>
		<category><![CDATA[18k]]></category>
		<category><![CDATA[Aquamarine]]></category>
		<category><![CDATA[Carat]]></category>
		<category><![CDATA[Diamond]]></category>
		<category><![CDATA[Faceted]]></category>
		<category><![CDATA[Gold]]></category>
		<category><![CDATA[Leather]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Tiffany and Co]]></category>
		<category><![CDATA[Watches]]></category>
		<category><![CDATA[White Gold]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=218773</guid>

					<description><![CDATA[Tiffany and Co has unveiled new watches as part of its presence at LVMH Watch Week 2025. One of the watch collections unveiled is the Carat 128 Aquamarine Watch named after the legendary Tiffany Diamond, a 128.54-carat cushion-shaped fancy yellow diamond. The Carat 128 collection is distinguished by its cushion-shaped case, which is faceted on &#8230;]]></description>
										<content:encoded><![CDATA[<p>Tiffany and Co has unveiled new watches as part of its presence at LVMH Watch Week 2025.<span id="more-218773"></span></p>
<p>One of the watch collections unveiled is the Carat 128 Aquamarine Watch named after the legendary Tiffany Diamond, a 128.54-carat cushion-shaped fancy yellow diamond.</p>
<p>The Carat 128 collection is distinguished by its cushion-shaped case, which is faceted on the front, echoing the form of the diamond that inspired it.</p>
<p>The collection encompasses two styles, Carat 128 Facet, distinguished by diamond-set cases and dials coupled with leather straps, and Carat 128 High Jewellery, a series of unique and very limited-production pieces, featuring a faceted dial crystal and fully gem-set bracelet.</p>
<p>During LVMH Watch Week 2025, Tiffany and Co will unveil the Carat 128 aquamarine high jewelry watch, a one-of-a-kind piece.</p>
<p>The Carat 128 aquamarine high jewellery watch, a unique piece, features a 27 mm diamond-set case in 18k white gold, with a total of 897 diamonds totaling over 29 carats set on its case and five-row bracelet.</p>
<p>The brand will also reveal the Eternity by Tiffany Wisteria Watch, inspired by the Tiffany lamps of the early 20th Century.</p>
<p>The timepiece is a tribute to the House’s illustrious horological legacy, as one of the first houses to master the art of combining fine jewelry with watchmaking.</p>
<p>&nbsp;</p>
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		<title>Alexandre Arnault exits Tiffany and Co in latest LVMH reshuffle</title>
		<link>https://www.jewelleryfocus.co.uk/218154-alexandre-arnault-exits-tiffany-and-co-in-latest-lvmh-reshuffle</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Fri, 15 Nov 2024 15:49:09 +0000</pubDate>
				<category><![CDATA[Retailers]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[Leather]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Tiffany and Co]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[York]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=218154</guid>

					<description><![CDATA[Alexandre Arnault, executive vice president of Product, Communications and Industrial at Tiffany and Co has stepped down from his role following the latest LVMH leadership reshuffle. Arnault has now been appointed as deputy CEO of the group’s Wines and Spirits division. He began his career in the United States, first in strategy consulting with McKinsey&#38;Co &#8230;]]></description>
										<content:encoded><![CDATA[<p>Alexandre Arnault, executive vice president of Product, Communications and Industrial at Tiffany and Co has stepped down from his role following the latest LVMH leadership reshuffle.<span id="more-218154"></span></p>
<p>Arnault has now been appointed as deputy CEO of the group’s Wines and Spirits division.</p>
<p>He began his career in the United States, first in strategy consulting with McKinsey&amp;Co and subsequently in private equity with KKR in New York.</p>
<p>He then joined LVMH and Afache, where he focussed on digital innovation and investment in the technology sector.</p>
<p>Arnault oversaw and started the acquisition of Rimova by LVMH. In 2021, he stepped into the role of executive vice president of Product, Communications and Industrial at Tiffany and Co.</p>
<p>In a LinkedIn post, Arnault said: “Four years ago, I had the privilege to help reimagine Tiffany &amp; Co., one of the world’s most iconic brands. Looking back, I am profoundly grateful to the remarkable Tiffany teams and friends of the brand who poured their passion and talent into this journey, helping us push boundaries and bring a new vision to life. Together, we’ve achieved milestones that I will carry with immense pride.</p>
<p>“From our innovations in product to redefining the Tiffany message through bold marketing and cultural initiatives, each project was a reminder of why Tiffany &amp; Co. is a brand unlike any other. Being part of this family has been an honour I will cherish forever.”</p>
<p>He added: “After four transformative years in Fashion and Leather Goods with Rimowa and these last four in Watch &amp; Jewelry with Tiffany &amp; Co. I’m excited to step into a new chapter within LVMH’s Wines and Spirits division, embracing this foundational part of our Group’s heritage. My heart, however, will forever remain a shade of Tiffany blue—these years have shaped the person and leader I am today.”</p>
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		<title>Chaumet introduces first traceable Bee My Love pendant</title>
		<link>https://www.jewelleryfocus.co.uk/217347-chaumet-introduces-first-traceable-bee-my-love-pendant</link>
		
		<dc:creator><![CDATA[Liam J Moran]]></dc:creator>
		<pubDate>Thu, 05 Sep 2024 15:37:48 +0000</pubDate>
				<category><![CDATA[Designers]]></category>
		<category><![CDATA[Carat]]></category>
		<category><![CDATA[Chaumet]]></category>
		<category><![CDATA[Diamond]]></category>
		<category><![CDATA[Gold]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Pendant]]></category>
		<category><![CDATA[Traceability]]></category>
		<category><![CDATA[White Gold]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=217347</guid>

					<description><![CDATA[Chaumet has announced that it is introducing a Bee My Love pendant with a Taille Impératrice diamond that’s fully traceable from the rough to the finished jewel. The new piece offers a unique jewel with a fully traced diamond, in accordance with the commitments made by the LVMH group. To do this, it combines its &#8230;]]></description>
										<content:encoded><![CDATA[<p>Chaumet has announced that it is introducing a Bee My Love pendant with a Taille Impératrice diamond that’s fully traceable from the rough to the finished jewel.<span id="more-217347"></span></p>
<p>The new piece offers a unique jewel with a fully traced diamond, in accordance with the commitments made by the LVMH group.</p>
<p>To do this, it combines its savoir-faire excellence with technology developed by Sarine, a global expert in diamond traceability.</p>
<p>The result is a Bee My Love pendant in white gold set with a certified 0.50 carat diamond, available from September.</p>
<p>Through the use of cutting-edge technology, the Maison can now take its exclusive cut even further, offering the possibility to follow and visualise the various stages in the life of each stone.</p>
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		<title>Diamond prices plummet in July</title>
		<link>https://www.jewelleryfocus.co.uk/217234-diamond-prices-plummet-in-july</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Fri, 09 Aug 2024 14:37:46 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Carat]]></category>
		<category><![CDATA[De Beers]]></category>
		<category><![CDATA[Diamond]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Manufacturers]]></category>
		<category><![CDATA[Rapaport]]></category>
		<category><![CDATA[RapNet]]></category>
		<category><![CDATA[Retail Sales]]></category>
		<category><![CDATA[Tiffany and Co]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=217234</guid>

					<description><![CDATA[Diamond prices dropped sharply in July amid slow retail sales and an oversupply in India, according to Rapaport’s RapNet Diamond Index. The seasonal summer slowdown also had a negative effect on sales. The RapNet Diamond Index (RAPI™) for 1-carat goods, reflecting round, D to H, IF to VS2 diamonds, slid 7.3% in July, the steepest &#8230;]]></description>
										<content:encoded><![CDATA[<p>Diamond prices dropped sharply in July amid slow retail sales and an oversupply in India, according to Rapaport’s RapNet Diamond Index. The seasonal summer slowdown also had a negative effect on sales.<span id="more-217234"></span></p>
<p>The RapNet Diamond Index (RAPI™) for 1-carat goods, reflecting round, D to H, IF to VS2 diamonds, slid 7.3% in July, the steepest monthly decline for that size since December 2008.</p>
<p>Meanwhile, the RAPI of the 0.30-carat, 0.50-carat and 3-carat stones declined 8.9%, 7.9%, and 5.8% respectfully.</p>
<p>However, SI (Slightly Included) diamonds saw a “moderate” decline of 3.2% due to steady demand from the US market.</p>
<p>Weak sales also led to an increase in polished inventory. The number of diamonds on RapNet increased by 2% in July for a total of 1.7 million and jumped 9% between 1 April and 1 August.</p>
<p>As a result, Indian diamond manufacturers reduced their production in July to realign their inventory with current demand. The report stated that these cuts will take six weeks before it impacts inventory levels.</p>
<p>Additionally, rough diamond demand was sluggish. De Beers allowed sightholders to refuse goods at its July sight and offered 30% buybacks for certain categories. Sales were estimated to be under $200m (£156.7m).</p>
<p>The report stated that luxury brands also bought fewer diamonds than in previous years, creating weakness in high-end goods. LVMH’s jewellery and watch sales declined 5% year on year to $5.58bn (£4.37m) in the first half of 2024.</p>
<p>According to LVMH, slow US bridal demand had put pressure on Tiffany and Co.</p>
<p>Sales in China also remained weak due to the slow economy and due to shoppers shifting away from diamonds as an investment. The report highlighted that consumers with money preferred to spend at overseas tourist destinations rather than domestically.</p>
<p>Lastly, India’s jewellery industry expects the India International Jewellery Show (IIJS), which runs from 8 to 13 August, to signal strong domestic demand ahead of Diwali.</p>
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		<title>LVMH watches and jewellery arm sees profits and revenues fall in H1</title>
		<link>https://www.jewelleryfocus.co.uk/217126-lvmh-watches-and-jewellery-arm-sees-profits-and-revenues-fall-in-h1</link>
		
		<dc:creator><![CDATA[Cynera Rodricks]]></dc:creator>
		<pubDate>Wed, 24 Jul 2024 13:49:41 +0000</pubDate>
				<category><![CDATA[Designers]]></category>
		<category><![CDATA[Bulgari]]></category>
		<category><![CDATA[Chaumet]]></category>
		<category><![CDATA[France]]></category>
		<category><![CDATA[Hublot]]></category>
		<category><![CDATA[LVMH]]></category>
		<category><![CDATA[Paris]]></category>
		<category><![CDATA[Rome]]></category>
		<category><![CDATA[Tag Heuer]]></category>
		<category><![CDATA[Tiffany and Co]]></category>
		<category><![CDATA[Watches]]></category>
		<guid isPermaLink="false">https://www.jewelleryfocus.co.uk/?p=217126</guid>

					<description><![CDATA[LVMH’s jewellery and watches business has reported a 19% decline in profits from recurring operations to €877m (£736.6m) and a 3% fall in revenues to €5.15bn (£4.33bn) in the first half of 2024. According to LVMH, its profits were “heavily affected by exchange rate fluctuations”. Despite the drop in revenues and profits, the brands under &#8230;]]></description>
										<content:encoded><![CDATA[<p>LVMH’s jewellery and watches business has reported a 19% decline in profits from recurring operations to €877m (£736.6m) and a 3% fall in revenues to €5.15bn (£4.33bn) in the first half of 2024.<span id="more-217126"></span></p>
<p>According to LVMH, its profits were “heavily affected by exchange rate fluctuations”.</p>
<p>Despite the drop in revenues and profits, the brands under the group’s jewellery arm such as Tiffany and Co. continued to showcase its “iconic lines” through initiatives including a new campaign that received an “excellent welcome”.</p>
<p>The new Tiffany Titan by Pharrell Williams collection also generated an “exceptional level of interest”.</p>
<p>Meanwhile, Bulgari celebrated its 140th anniversary with the “Eternally Reborn” campaign, and presented the new Aeterna high jewellery collection in Rome, which achieved “record-breaking revenue”.</p>
<p>Additionally, Chaumet unveiled the medals for the Paris 2024 Olympic and Paralympic Games, created by its design studio.</p>
<p>In watches, Tag Heuer strengthened its ties with sports, particularly motor sports with the “successful” relaunch of its historic Formula 1 collection.</p>
<p>Hublot reaffirmed its “pioneering role in the art world” with a pocket watch designed in collaboration with Daniel Arsham.</p>
<p>Lastly, LVMH Watch Week was a “major success”. The group also announced the acquisition of “high-end” Swiss clock manufacturer L’Epée 1839.</p>
<p>Bernard Arnault, chairman and CEO of LVMH, said: “The results for the first half of the year reflect LVMH’s remarkable resilience, backed by the strength of its Maisons and the responsiveness of its teams in a climate of economic and geopolitical uncertainty. Driven as ever by our dual focus on desirability and responsibility, we have continued to work towards achieving the targets set out in our environmental and social action programmes.</p>
<p>“In a year marked by our partnership with the Paris 2024 Olympic and Paralympic Games, we are honoured to share our creativity, excellent craftsmanship and deep commitment to society to make this event a resounding success and an opportunity for France to shine on the world stage. While remaining vigilant in the current context, the group approaches the second half of the year with confidence, and will count on the agility and talent of its teams to further strengthen its global leadership position in luxury goods in 2024.”</p>
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