LVMH Moӫt Hennessy Louis Vuitton (LVMH) reported that its Watches and Jewelry business group recorded organic revenue growth (at constant exchange rates) of 7 percent in the first quarter of 2016. Overall, LVMH recorded a 4-percent increase in first half 2016 revenue to €8.6 billion ($9.8 billion).
In the first quarter, revenue increased by 7 percent, to €774 million ($884 million), up from €723 million ($826 million) in the same period in 2015, which represents a 7-percent increase.
The company said that it had outperformed the market during the period and was due to an excellent performance from Bvlgari and the success of the TAG Heuer smartwatch. A number of the LVMH watch brands were also well received at the Basel Watch Fair.
LVMH’s watch and jewelry brands comprise Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd.