International News
LVMH’s Watches & Jewelry Division Holds Steady at €2.48B in Q1 2025
Despite a turbulent global backdrop, LVMH’s Watches & Jewelry arm posts stable revenue, driven by Tiffany & Co.’s global expansion and creative campaigns from Bvlgari and Chaumet.
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury conglomerate, reported stable performance in its Watches & Jewelry division for the first quarter of 2025, with revenue reaching €2.482 billion. This marks a slight increase of 1% from €2.466 billion in Q1 2024. On an organic basis, which excludes currency fluctuations, the division’s revenue remained flat — a reflection of resilience in the face of ongoing economic and geopolitical headwinds.
Representing 11% of the group’s total Q1 revenue, the division was buoyed by the continued momentum of Tiffany & Co., which expanded its iconic collections and accelerated the global rollout of its new store concept inspired by The Landmark, its flagship location in New York City.
Bvlgari tapped into cultural storytelling with its celebration of the Year of the Snake, bringing new energy to its legendary Serpenti line through immersive art exhibitions in Shanghai and Seoul. Meanwhile, Chaumet spotlighted its rich heritage by reimagining the Bee de Chaumet collection, unveiling refreshed designs that emphasize the brand’s artisanal excellence and historical depth.
Despite market uncertainties, LVMH’s Watches & Jewelry division maintained its footing through a blend of innovation, craftsmanship, and strategic brand storytelling.
International News
Consortium Led By Former De Beers CEO Gareth Penny Selected As The Preferred Bidder To Acquire De Beers
Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers
A consortium headed by former De Beers CEO Gareth Penny has been selected as the preferred bidder to acquire De Beers, according to Botswana’s Minister for State President, Defence and Security, Moeti Mohwasa.
Speaking on the development, Mohwasa said Anglo American conducted a competitive sale process involving three shortlisted bidders before identifying the Global Diamond Consortium as its preferred choice.
Anglo American announced plans to divest De Beers in May 2024 as part of a broader restructuring strategy, driven by prolonged weakness in the diamond market and other business priorities.
The sale process has attracted significant interest from industry leaders and investors. Among those previously linked to the bidding were former De Beers CEO Bruce Cleaver, Australian mining executive Michael O’Keeffe, Indian billionaire Anil Agarwal, and Indian diamond companies KGK Group and Kapu Gems.
Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers and retains important rights under the shareholder agreement. Mohwasa emphasized that Botswana has the flexibility to either join the preferred bidder as a strategic partner or exercise its pre-emptive rights independently or with another investor.
Industry observers believe the eventual owner will seek to preserve De Beers’ vertically integrated business model, spanning diamond mining, trading and global natural diamond marketing, while positioning the company to benefit from a potential recovery in natural diamond demand and prices.
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