Revenue for the category increased 9% to $1.18 billion (EUR
959 million) in the three months ending March 31. “Organic” sales growth, which
assumes a comparable structure and constant exchange rates, was 20%.
The company noted a “buoyant
environment [at] the beginning of this year, albeit marked by unfavorable
exchange rates and geopolitical uncertainties.”
The jump in jewelry sales was driven a strong performance by
Bulgari, as well as the launch of a new Chaumet collection. The Paris-based
luxury retailer also reported a positive reception for certain watch products at the Baselworld show, which included pieces by Hublot, TAG Heuer and Zenith.
Group sales, including jewelry, wines and spirits, fashion and cosmetics,
grew 10% to $13.38 billion (EUR 10.85 billion).
Image: George Shahda