LVMH reports 14% increase in H1 jewelry, watch sales

Michelle Graff

Sales for LVMH’s Watches & Jewelry division rose by a double-digit percentage in the first half of the year, the company reported Thursday.

Worldwide revenue for the group that includes Bulgari, Hublot and TAG Heuer increased 14 percent (13 percent on an organic basis) year-over-year to $2.1 billion.

Profit from recurring operations totaled $273.2 million, up 14 percent when compared with the same period last year.

LVMH Moët Hennessy Louis Vuitton said “iconic” lines and creativity in new product is what continues to drive its watch and jewelry sales.

Bulgari had a particularly strong first half, thanks to Serpenti and B.zero1, and the new high-end Festa collection. Watch sales also picked up, with the Italian brand introducing its new Octo Finissimo watch at Baselworld.

Hublot saw growth in sales in China, particularly of its classic Big Bang and Classic Fusion lines, while TAG Heuer had “excellent response” to the new Formula 1, Carrera and Aquaracer watches.

LVMH also owns the Fred, Chaumet and Zenith brands.

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Source National Jeweler