American darling Tiffany & Co. is bringing in big money for its French parent.

LVMH reported 9% growth in its watches and jewelry vertical in the last half of the year compared to the same period last year, driven by sales in the US, Asia and Japan.

Tiffany was a big reason for the growth, said LVMH Chief Executive Bernard Arnault, France’s richest man.

Arnault said on an earnings call Monday that Tiffany, which he acquired for $15.8 billion in 2020, was growing because of its iconic product lines, the HardWear and Knot collections. LVMH CFO Cécile Cabanis added that the HardWear and Knot collections grew by approximately 75% and 50% in the last six months, respectively.

Tiffany’s commitment to fine jewelry was also paying off, Arnault said. LVMH announced in January that Tiffany was moving away from its iconic silver jewelry and into gold and fine jewelry, where it was seeing greater demand.

The 77-year-old luxury mogul said during the earnings call that Tiffany was renovating its retail stores, with about 40% renovated so far.

LVMH’s watch and jewelry line, which earned 5.23 billion euros, or $5.94 billion, in the past six months, was also boosted by Bulgari’s strong performance in fine jewelry and watches, Arnault said. Its Serpenti, Diva and B.zero1 lines have been particularly successful, he added.

Monday’s results show a glimmer of hope for the luxury conglomerate, which has had a series of difficult quarters. Its revenue has been in the red since the first half of 2024.

It saw its sales plummet after aspiring COVID-era shoppers reduced their spending following the pandemic, triggering a slump across the luxury industry. Economic pressures in China also caused LVMH to fall out of favor with one of its largest consumer bases.

It suffered further challenges last year due to President Donald Trump’s tariffs. Arnault adopted dry humor when discussing the long period of weak financial performance, saying on an earnings conference call in January: “I think we will get through the winter.”

LVMH’s share price had risen about 1.1% when markets closed on Monday.