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LVMH Sees Strong Jewelry and Watch Growth
Oct 10, 2017 9:10 AM
By Rapaport News
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RAPAPORT... LVMH Moët Hennessy Louis Vuitton’s revenue from jewelry and watches increased 8% year on year to $1.12 billion (EUR 951 million) in the third quarter.
Overall group revenue jumped 14% to $12.26 billion (EUR 10.38 billion) during the period, the luxury-product company reported Tuesday.
The company noted a “remarkable performance” at Bulgari thanks in particular to the rapid growth of its signature jewelry collections Serpenti, Diva and B.Zero1. It also listed the launch of the new Festa high-end jewelry line as a highlight for the quarter, while the Chaumet and Fred brands also contributed to the overall positive performance. In watches, TAG Heuer and Hublot continued to grow, LVMH said.
In the first nine months of the year, jewelry and watch revenue grew 12% compared to the same period in 2016, hitting $3.29 billion (EUR 2.79 billion), while group revenue increased 14% to $33.5 billion (EUR 30.1 billion).
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Tags:
Bulgari, diamond jewelry, diamonds, fashion, jewellery, Jewelry, Louis Vuitton, luxury, LVMH, Rapaport News
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