Morning Bites (part 2)

💍LVMH has reported 14% YoY growth in the organic sales of watches and jewellery in 2Q23, vs. the 11% YoY increase in 1Q23. According to the company's CEO Bernard Arnault, sales were strong in the high jewelry segment, specifically at its Tiffany, Bulgari and TAG Heuer brands. Meanwhile, LVMH’s 2Q23 total organic sales in the US showed a 1% YoY decline (vs. +8% in 1Q23), which supports our cautious view on the diamond market globally, as the US is the key gem-set jewellery selling hub (~50% of global consumption)

#diamonds
https://metals-wire.com/sector/Diamonds