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LVMH Jewelry and Watch Revenue Jumps
Oct 10, 2019 5:30 AM
By Rapaport News
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RAPAPORT... LVMH Moët Hennessy Louis Vuitton saw a rise in jewelry and
watch sales in the third quarter, led by a strong performance at its Bulgari
brand, it said Wednesday.
Revenue for the category increased 8% to EUR 1.13 billion
($1.24 billion) for the three months ending September 30.
Growth at Bulgari was led by sales in its self-owned
stores, while its Serpenti, B.Zero1, Diva and Fiorever lines, as well as the new
Serpenti Seduttori watch collection, were strong performers. Watch brand TAG Heuer performed well, as
did Hublot, which made “solid progress,” benefiting from new models from several
collaborations, the luxury group said.
In the first nine months of the year, revenue from jewelry
and watches advanced 8% to EUR 3.26 billion ($3.59 billion).
Group sales for the third quarter — including jewelry, wines
and spirits, fashion, and cosmetics — grew 16% to EUR 38.4 billion ($42.31
billion).
Image: The Bulgari flagship store on Fifth Avenue, New York. (LVMH)
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Tags:
B.Zero1, Bulgari, diva, Fiorever, hublot, LVMH, LVMH Moët Hennessy Louis Vuitton, Rapaport News, Serpenti, Serpenti Seduttori, Tag Heuer
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