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LVMH Watch & Jewelry Sales Rise

Oct 13, 2016 8:43 AM   By Rapaport News
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LVMH Moët Hennessy Louis Vuitton reported revenue from watches and jewelry increased in the first nine months of the year as its iconic Bulgari jewelry brand gained market share.

Sales rose 3 percent to $2.74 billion (EUR 2.49 billion), the Paris, France-headquartered luxury group said. “Organic” revenue growth, which assumes a comparable structure and constant exchange rates, was 4 percent.

Bulgari “showed major creative momentum by enriching its iconic product lines,” notably with the launch of the Serpenti Seduttori range, LVMH said. Timepiece brand TAG Heuer benefited from the success of its new collections and smartwatch in a “difficult” market.

LVMH’s group-wide revenue grew 4 percent to $29 billion (EUR 26.33 billion), or a 5 percent organic increase.

During the third quarter, watch and jewelry sales grew 3 percent to $965.8 million (EUR 877 million), representing a 2 percent rise in organic revenue.
Tags: Bulgari, Europe, France, Jewelry, LVMH, LVMH Moët Hennessy Louis Vuitton, paris, Rapaport News, retail, Serpenti Seduttori, smartwatches, Tag Heuer, watches
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