Morning Bites (part 3)

💍LVMH has reported 3% YoY growth in the organic sales of watches and jewellery in 4Q22, vs. the 16% YoY increase in 3Q22. Overall, the FY22 results were 12% higher YoY. According to the company, Tiffany & Co. had a record year in the segment, with high-jewellery revenues doubling. In addition, LVMH's other major brands also saw positive momentum throughout 2022, particularly in the EU, US and Japan. However, the slowing YoY growth rate in 4Q22 underpins the risks to global jewellery demand, amid adverse macroeconomic conditions, which might be a limiting factor for diamond demand

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