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LVMH Reports 14% Increase in H1 Jewelry, Watch Sales
Sales of Bulgari jewelry and watches were particularly strong thanks to Serpenti, B.zero1 and the new high-end Festa collection.
Among the Baselworld 2017 introductions from LVMH-owned watch brand TAG Heuer were new styles in the Aquaracer line--the Aquaracer 300M Khaki (pictured above) and the Aquaracer 300M Camo. LVMH said TAG Heuer’s new watches performed well in the first half of the year.
Paris--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.
Overall, revenue increased 15 percent to $23.01 billion for the Paris-based luxury conglomerate in the first half of 2017. The U.S. market performed well, as did Europe and Asia.
Fashion & Leather Goods (Louis Vuitton, Fendi, Givenchy, etc.) delivered the strongest sales performance, with revenue up 17 percent.
Revenue for the Selective Retailing division (Sephora, DFS and Le Bon Marché) was up 15 percent while Wines & Spirits (Hennessey, Moët, etc.) posted revenue growth of 12 percent.
Sales of Perfumes & Cosmetics, which includes Benefit and Fresh as well as crossover brands from Fashion & Leather Goods, rose 7 percent.
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