110 111

LVMH 2021 . Wa t c h e s & J e w e l r y

HIGHLIGHTS 2021

The Watches and Jewelry business group saw organic revenue growth of 40% with respect to 2020, which had been particularly hard hit by the pandemic, and of 7% compared with 2019. Including Tiffany & Co., growth was much stronger, showing the transformative contribution of this iconic brand. The Maisons were buoyed by the gradual recovery in their local markets, primarily China and the United States, and the use of distribution methods well-suited to the public health context: direct sales and digital channels. New watch designs were unveiled in the first half of the year at trade fairs that were held in innovative new formats. Tiffany & Co. achieved a record performance in terms of revenue, profit and cash flow. The Maison raised its global profile through its innovations and high-profile collaborations. For the first time in its history, Tiffany & Co. s annual Blue Book collection of high jewelry was unveiled in China. A series of events followed in New York, Los Angeles and Dubai, giving customers the opportunity to discover the extraordinary necklace, featuring over 180 carats of diamonds, inspired by the pendant unveiled at the 1939 New York World s Fair. Following these presentations, high jewelry sales reached

an unprecedented level. Rosé, the young singer of South Korean band Blackpink, became the new face of the HardWear collection. This very well-received revival led to a doubling of sales for this core line, which embodies bold femininity. The Knot collection a limited edition designed in collaboration with artist Daniel Arsham was another major success, as was the Tiffany x Supreme collaboration. December saw the launch of the highly anticipated limited edition of the watch designed by Patek Philippe and Tiffany & Co. to celebrate 170 years of collaboration between Patek and Tiffany & Co. in the US, with the auction of the first watch of 170 limited editions raising a record level of funds for The Nature Conservancy. Honoring its long tradition of expressions of love and diversity, the Maison launched its About Love global campaign starring Beyoncé and Jay-Z. Among the jewelry featured was the legendary Tiffany Diamond, making Beyoncé only the fourth person to wear it since its discovery in 1877. This campaign one of the year s most prominent was a powerful affirmation of the brand s resolutely modern tone, boosting its appeal and expressing its core values. Three openings