LVMH’s stable of watch and jewelry brands enjoyed an astounding 20 percent organic revenue growth during the first quarter of 2018, the luxury conglomerate announced recently.
That’s better than all of the luxury conglomerate’s other business groups, and it also tops the 13 percent organic growth the overall company registered for the first quarter of the year.
LVMH’s “organic growth” metric is calculated using comparable exchange rates. When looking at reported growth, the watch and jewelry business group only showed 9 percent growth over the prior year, a lower but still impressive number.
In a press release, the Paris-based company singled out the following initiatives by its stable of watch and jewelry brands:
– “Bulgari enjoyed an excellent performance and continues to gain market share thanks to the strength of its iconic lines Serpenti, B.Zero1, Diva, and Octo.”
– “Chaumet unveiled its new high-end jewelry collection.”
– “The innovative products presented by LVMH’s watch brands at the Baselworld Watch and Jewelry Fair were very well received, including Hublot’s Big Bang Sapphire Tourbillon, Bulgari’s Octo Finissimo Automatic Tourbillon, and new models in the iconic Monaco and Carrera lines at TAG Heuer and Defy at Zenith.”