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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.
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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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