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LVMH's Jewelry, Watch Sales +2%

Oct 14, 2014 1:02 PM   By Jeff Miller
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RAPAPORT... LVMH reported that revenue rose 4 percent year on year to $27 billion (EUR 21.4 billion) for the nine months that ended on September 30. The watches and jewelry segment recorded growth of 2 percent at $2.5 billion (EUR 1.972 billion), while on a comparable-basis and at constant-exchange-rates, the increase was 5 percent. Reported sales for the company's wines and spirits segment fell 7 percent, while revenue improved 8 percent for fashion and leather goods, rose 4 percent for perfumes and cosmetics and increased 5 percent for its selective retailing division.

During the third quarter, LVMH observed an acceleration of sales for its jewelry segment, driven by Bulgari. Watch sales, however,  continued to be impacted by a more cautious purchasing trend observed by multi-brand retailers in an uncertain economic environment, according to LVMH. The group launched a new watch -- Lvcea by Bvlgari -- for women during the third quarter and it observed good sales across Hublot’s iconic lines.

Overall, LVMH defined the global economic and financial market as "uncertain" and vowed to  continue an operational strategy that is focused on innovative products and targeted geographic expansion for the most promising growth markets.

Tags: Bulgari, Jeff Miller, Jewelry, luxury goods, LVMH, revenue, watches
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