In the first nine months of this year, LVMH Moët Hennessy Louis Vuitton saw an increased revenue from watches and jewellery as Bulgari gained market share.
According to the Paris-based luxury group, sales rose 3 per cent to USD $2.74 billion (EUR 2.49 billion). “Organic” revenue growth, which presupposes a similar structure and constant exchange rates, showed a 4 per cent increase.
The fashion house also notes that Bulgari “showed major creative momentum by enriching its iconic product lines,” especially with the launch of its Serpenti Seduttori range. Moreover, TAG Heuer benefited from the success of its new smartwatch, the “Connected” model, in a “difficult” market.
LVMH’s group-wide revenue grew 4 per cent to USD $29 billion (EUR 26.33 billion). Over the third quarter, watch and jewellery sales grew 3 per cent to USD $965.8 million (EUR 877 million).
This increase in sales brings hope to luxury watch and jewellery retailers as recent reports have demonstrated a glum outlook in sales for the coming years.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
