Tiffany shifts focus from silver to gold and high jewelry under LVMH

Businessinsider reports Tiffany & Co. will move away from the silver jewelry that brought it fame and instead focus on gold and high jewelry, LVMH executives said on a Tuesday earnings call. Bernard Arnault said, "Tiffany had excellent products, but we redirected the house so that it can develop in jewelry and high jewelry, fewer silver products." LVMH's group managing director Stéphane Bianchi said Tiffany had been "hugely focused" on silver, but the group is pushing the brand toward gold and high jewelry, which is crafted from precious metals like gold and rare gemstones such as diamonds, rubies, and emeralds.

Bianchi said demand for high jewelry has quadrupled over the last four years, while demand for silver jewelry has declined by a third since LVMH acquired Tiffany in 2021; the $15.8 billion acquisition was LVMH's biggest to date. The move comes amid a historic rally in precious metals: spot gold broke above $3,000 per troy ounce in March, climbed to $4,000 in October, and smashed past $5,000 earlier this week, trading around $5,240 per ounce, while silver recently breached $100 and is trading around $115 after gains of 56% year to date and a 170% jump last year.

LVMH's watches and jewelry division reported €10.5 billion in sales in 2025, a 1% decline from the prior year, and LVMH's stock is down about 22% in the past year.