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Bulgari Lifts LVMH Jewelry Sales

Jul 27, 2016 3:28 AM   By Rapaport News
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RAPAPORT... 
LVMH Moët Hennessy Louis Vuitton reported stronger jewelry and watch sales driven by the Bulgari brand which “outperformed the market” in the first half of 2016.

Revenue from the business unit increased 4 percent on both a reported and comparable basis, reaching $1.77 billion (EUR 1.61 billion), while profit from recurring operations was flat at $225.3 million.

High-end jewelry brand Bulgari showed “strong creative momentum” that saw enhancements to its B Zero 1 and Diva collections. LVMH also singled out TAG Heuer, which gained market share having strengthened its core offering and due to the success of its Connected smartwatch.

LVMH’s group revenue advanced 3 percent to $18.89 billion in the first half, or 4 percent on a comparable basis. The company said it maintained strong momentum in the U.S., while Europe continued to grow with the exception of France, which was hit by a decline in tourism. Sales in Asia improved steadily, it added.
Tags: asia, B Zero 1, Bulgari, Connected smartwatch, diva, Europe, France, Jewelry, LVMH, LVMH Moët Hennessy Louis Vuitton, Rapaport News, retail, smartwatches, Tag Heuer, u.s.
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