LVMH Moët Hennessy Louis Vuitton reported jewelry and watch sales jumped in the fourth quarter, indicating luxury consumers shrugged off global economic uncertainty this holiday season.
Revenue advanced 9 percent to $1.05 billion (EUR 982 million) in the three months that ended December 31, the Paris-based luxury retailer said. Group sales, which includes jewelry, wines, fashion and cosmetics, rose by the same percentage to $12.06 billion.
Jewelry and watch sales grew 5 percent to $3.71 billion for the full year 2016. Revenue from exclusive jewelry brand Bulgari outpaced the market, with progress in China, South Korea and the Middle East, the company explained. Group sales also increased 5 percent to $40.22 billion.