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LVMH Watch & Jewelry Sales Rise
Oct 13, 2016 8:43 AM
By Rapaport News
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RAPAPORT... LVMH Moët Hennessy Louis Vuitton reported revenue from
watches and jewelry increased in the first nine months of the year as its iconic
Bulgari jewelry brand gained market share.
Sales rose 3 percent to $2.74 billion (EUR 2.49 billion), the
Paris, France-headquartered luxury group said. “Organic” revenue growth, which
assumes a comparable structure and constant exchange rates, was 4 percent.
Bulgari “showed major creative momentum by enriching its
iconic product lines,” notably with the launch of the Serpenti Seduttori
range, LVMH said. Timepiece brand TAG Heuer benefited from the success of its
new collections and smartwatch in a “difficult” market.
LVMH’s group-wide revenue grew 4 percent to $29 billion (EUR
26.33 billion), or a 5 percent organic increase.
During the third quarter, watch and jewelry sales grew 3
percent to $965.8 million (EUR 877 million), representing a 2 percent rise in
organic revenue.
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Tags:
Bulgari, Europe, France, Jewelry, LVMH, LVMH Moët Hennessy Louis Vuitton, paris, Rapaport News, retail, Serpenti Seduttori, smartwatches, Tag Heuer, watches
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