LVMH, a titan in the world of luxury goods, reported strong full-year results with watch and jewelry sales climbing by a double-digit percentage.
Sales of LVMH-owned watch and jewelry brands totaled €4.12 billion ($4.73 billion) in 2018 compared with €3.80 billion ($4.36 billion) in 2017.
Organic (like-for-like) revenue growth was 12 percent.
Bulgari had a show-stopper of a year with relative newcomers like the Octo Finissimo watch and Fiorever jewelry collection performing especially well.
Among LVMH’s watch brands, TAG Heuer’s smartwatches took off while Hublot saw strong growth and increased visibility as the official timekeeper for the FIFA World Cup, which took place in summer 2018.
Headquartered in Paris, LVMH Moёt Hennessy Louis Vuitton is to luxury products what Procter & Gamble is to consumer staples with its household name brands spanning jewelry, watches, wines and spirits, leather goods, perfumes, and cosmetics.
Total fourth-quarter revenue for the company reached €13.70 billion ($15.70 billion) compared with €12.54 billion ($14.40 billion) a year ago, continuing the upward trend of the previous quarters.