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LVMH’s Watch and Jewelry Sales Climb 10% in Q3
Bulgari continues to bolster the company and gain market share.
Bulgari was a top performer for LVMH in the third quarter. Pictured here is the brand’s most complicated watch ever, introduced just this month: the Octo Grande Sonnerie Perpetual Calendar, which combines two major complications, the Grande sonnerie and the perpetual calendar.
Paris—Strong performances from its jewelry and watch brands have helped LVMH continue its growth trend in 2018.
In third quarter results released Tuesday, the Paris-based luxury conglomerate reported that its Watches & Jewelry division saw organic growth of 10 percent year-over-year during the three-month period, following 20 percent growth in the first quarter and 12 percent growth in the second.
Through the first nine months of 2018, LVMH’s watch and jewelry sales are up 14 percent.
LVMH said Bulgari continued its strong performance and gained market share, bolstered by strong momentum with its jewelry and watch collections Serpenti, Diva, B.Zero1, Lvcea and Octo.
The company added that Bulgari’s new “Wild Pop” high jewelry line, launched at the beginning of the summer, continues to grow, while Chaumet and Fred “progressed steadily.”
Meanwhile, in watches, TAG Heuer continued to develop its lines, and Hublot, which LVMH said grew strongly in the first nine months of the year, opened its first standalone boutique in London.
RELATED CONTENT: LVMH Appoints Stéphane Bianchi Head of Watches
The company said revenue across all divisions was up 10 percent year-over-year in the third quarter, also continuing a trend seen in the first half of the year.
All divisions of the business contributed to the growth. Wine & Spirits sales were up 7 percent organically, Fashion & Leather Goods were up 14 percent, Perfumes & Cosmetics grew 11 percent, and Selective Retailing (Sephora, DFS) rose 5 percent.
In the nine-month period, LVMH recorded 11 percent organic revenue growth across all divisions, with total sales reaching €33.1 billion ($38.38 billion).
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