French Luxury Giant Buys $15.8B Jewelry, Wonders Why Everyone Loves Gold
KEY POINTS
- â˘LVMH acquired Tiffany & Co. for $15.8 billion in 2020, aiming to boost its watches and jewelry business worldwide.
- â˘In the latest half-year, Tiffanyâs HardWear collection rose 75%, Knot grew 50%, and the company shifted focus from silver to gold jewelry.
- â˘Despite previous challenges from economic pressure and tariffs, LVMHâs division earned âŹ5.23 billion ($5.94 billion), fueled also by Bulgariâs strong sales.
LVMH, the French luxury titan owned by billionaire CEO Bernard Arnault, dropped a casual $15.8 billion in 2020 to snatch up iconic American jeweler Tiffany & Co., only to watch it sparkle back with 9% growth this half-year, fueled by America, Asia, and Japan throwing cash at HardWear and Knot collections. The HardWear line glittered with 75% sales growth while Knot cozied up with a 50% surge. Forget silver, said Arnaultâwho at 77 insists Tiffanyâs pivot to gold and high jewelry is basically the haute couture of necklaces. Theyâre refurbishing 40% of Tiffanyâs stores while proudly watching Bulgariâs snake-like Serpenti and divaish Diva lines slide in with style. Despite past COVID slumps, China tantrums, and Trump tariffs, LVMHâs cheeky CEO cracked dry jokes like 'I think we'll make it through the winter,' as investors sarcastically clinked their champagne flutes. Their watches and jewelry riches rolled in a cool âŹ5.23 billion ($5.94 billion) this half, proving bling is still kingâunless youâre a silver fan, whoâs officially cancelled.
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(1 of 3)Turning silver into gold like a capitalist Midas, LVMH spends $15.8B buying Tiffany and gets a 9% glow-up while quietly ignoring silver like a bad Tinder date.
Buying Tiffany for $15.8B and ditching silver sounds like a midlife crisis, if your midlife was a French billionaireâs wallet.
Tiffanyâs 75% HardWear sales spike proves people will pay more to wear their identity crisis on a gold chain.
Source: Businessinsider | Published: 7/28/2026 | Author: Aditi Bharade
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