LVMH watch, jewelry sales up 3 percent

Michelle Graff

Paris–The owner of the TAG Heuer and Bulgari brands has seen its watch and jewelry sales increase so far this year, albeit not by much.

Paris-based LVMH Moët Hennessy Louis Vuitton reported Monday that its sales for its Watches & Jewelry division totaled $2.75 billion in the first nine months of fiscal year 2016, compared with $2.65 billion in the same period last year.

That’s an increase of 3 percent (4 percent on an organic/same-store basis).

LVMH said that Bulgari “continued to gain market share” and has showed “major creative momentum” by working on its iconic product lines, mentioning specifically the recent launch of Serpenti Seduttori.

TAG Heuer made “great progress in a difficult market,” LVMH said, benefitting from its new collections and sales of its smartwatch.

Hublot, meanwhile, continued to add to its Classic Fusion and Big Bang lines.

While watch and jewelry sales increased in the first nine months of the year, other segments of the business–Wines & Spirits, Perfumes & Cosmetics and Selective Retailing (which includes Sephora)–showed stronger growth.

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Source National Jeweler