IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
FinancialsApr 12, 2019
LVMH’s Q1 Watch, Jewelry Sales Pass Billion-Euro Mark
Bulgari was a top performer in both watches and jewelry.
The Octo Finissimo watch, introduced at Baselworld in 2016, was among the top sellers for Bulgari in Q1, LVMH said.
Paris—LVMH had a strong start to its fiscal year, with watch and jewelry sales climbing past the billion-euro mark in its first quarter.
Quarterly sales of LVMH-owned watch and jewelry brands totaled €1.05 billion ($1.19 billion) compared with €959 million ($1.08 billion) a year ago, a 9 percent increase.
Organic (like-for-like) revenue growth was 4 percent, with jewelry leading the charge. Bulgari’s iconic Serpenti, Divas’ Dream and Lvcea lines as well as its Fiorever collection had an especially strong first quarter.
During its earnings call Wednesday announcing first quarter results, LVMH executives also addressed the recently concluded Baselworld show, including answering the question: Will LVMH return to the watch and jewelry trade show in 2020?
“We once again had a successful participation in Baselworld this year in which we introduced a number of newer launches,” said Chris Hollis, director of financial communications.
The most well-received new timepieces exhibited at the watch and jewelry trade show included Hublot’s Classic Fusion Ferrari GT and Bulgari’s Octo Finissimo Chronograph GMT Automatic.
During the question-and-answer segment of the call, Bernstein analyst Luca Solca asked what the company’s plans are for Baselworld going forward since a number of major players, including Swatch Group, have dropped out.
“As far as Baselworld is concerned, I have to announce, I mean, we are one of the biggest players in this universe. You have seen the action taken by the others not only this year but over the last few years, which is obviously a reason for us to think about it, but we have not taken any decision and have nothing to announce,” Chief Financial Officer Jean-Jacques Guiony said.
Headquartered in Paris, LVMH Moёt Hennessy Louis Vuitton is to luxury products what Procter & Gamble is to consumer staples with its household name brands spanning jewelry, watches, wines and spirits, leather goods, perfumes, and cosmetics.
Total quarterly revenue when including all the luxury conglomerate’s divisions rose 11 percent to €12.54 billion ($14.16 billion) compared with €10.85 billion ($12.25 billion) a year ago.
While other retailers are facing a slowdown in sales in China, LVMH saw sales in Asia climb 17 percent organically, accounting for 35 percent of its total revenue, more than any other region.
Sales in the United States rose 8 percent while sales in Europe were up 7 percent.
Revenue from LVMH’s fashion and leather goods segment totaled €5.11 billion ($5.77 billion), a 15 percent increase in organic revenue compared with
€4.27 billion ($4.82 billion) a year ago.
Its iconic Louis Vuitton brand continued to be a best-seller, so much so that the company said it has opened a new leather workshop in France to meet demand and limit stock shortages.
The perfumes and cosmetics segment saw organic revenue growth of 9 percent to €1.68 billion ($1.9 billion) compared with €1.5 billion ($1.7 billion) a year ago.
LVMH’s wine and spirits segment reported organic revenue growth of 9 percent to €1.35 billion ($1.52 billion) compared with €1.19 billion ($1.34 billion) a year ago.
Hennessy cognac volumes increased double digits, seeing strong growth in the U.S. and Chinese markets.
The selective retailing segment, which includes Sephora and duty-free stores, saw organic revenue growth of 8 percent to €3.51 billion ($3.96 billion) compared with €3.1 billion ($3.5 billion) a year ago.
LVMH’s retail network spans 70 brands and 4,950 stores worldwide, as per its annual report.
Its iconic Louis Vuitton brand continued to be a best-seller, so much so that the company said it has opened a new leather workshop in France to meet demand and limit stock shortages.
The perfumes and cosmetics segment saw organic revenue growth of 9 percent to €1.68 billion ($1.9 billion) compared with €1.5 billion ($1.7 billion) a year ago.
LVMH’s wine and spirits segment reported organic revenue growth of 9 percent to €1.35 billion ($1.52 billion) compared with €1.19 billion ($1.34 billion) a year ago.
Hennessy cognac volumes increased double digits, seeing strong growth in the U.S. and Chinese markets.
The selective retailing segment, which includes Sephora and duty-free stores, saw organic revenue growth of 8 percent to €3.51 billion ($3.96 billion) compared with €3.1 billion ($3.5 billion) a year ago.
LVMH’s retail network spans 70 brands and 4,950 stores worldwide, as per its annual report.
More on Financials
The Latest
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
Weekly QuizMay 09, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
MajorsMay 09, 2024
JBT Elects New ChairmanBrian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Supplier BulletinMay 08, 2024
Fusing Past and Present at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ ExhibitionTobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met GalaStars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
IndependentsMay 07, 2024
112-Year-Old New Orleans Business Popping Up in Aspen M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler VhernierThe branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up CoutureThe six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s WatchesThe highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New CollectionThe “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler ScholarshipThe Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark ApplicationThe Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
EditorsMay 06, 2024
Q&A: 8 Questions With Anglo American’s Benny Oeyen The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
MajorsMay 06, 2024
Malabar Gold & Diamonds Opens 4th U.S. ShowroomThe Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
Events & AwardsMay 06, 2024
Ben Bridge Jeweler Accepting Applications for Lonia Tate ScholarshipIt will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
