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Jewelry and Watch Sales Rise for LVMH

Apr 10, 2018 8:54 AM   By Rapaport News
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RAPAPORT... LVMH Moët Hennessy Louis Vuitton saw a rise in jewelry and watch sales in the first quarter amid strong market conditions, it said. 

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
Tags: Baselworld, Bulgari, Chaumet, hublot, Jewelry, LVMH, LVMH Moët Hennessy Louis Vuitton, Rapaport News, Tag Heuer, watch, Zenith
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