RAPAPORT… LVMH Moët Hennessy Louis Vuitton saw a rise in jewelry and
watch sales in the third quarter, led by a strong performance at its Bulgari
brand, it said Tuesday.
Revenue for the category increased 10% to EUR 1.04 billion
($1.2 billion) for the three months ending September 30.
Bulgari’s sales growth was led by its Serpenti, Diva,
B.Zero1, Lvcea and Octo lines, as well as the launch of its new high-end
jewelry label, Wild Pop. Sales at Chaumet and Fred also progressed well, the
luxury-jeweler said. Watch brand TAG Heuer performed strongly, as did Hublot,
which opened its first stand-alone boutique in London during the quarter.
In the first nine months of the year, revenue from jewelry
and watches rose 14% to EUR 3.02 billion ($3.47 billion).
Group sales for the third quarter — including jewelry, wines
and spirits, fashion and cosmetics — grew 10% to EUR 11.38 billion ($13.07
billion).
Image: Bulgari store, Hong Kong. (Rityaecinos)
LVMH Jewelry and Watch Revenue Up
The Bottom Line
- LVMH's jewelry and watch revenue rose 10% to EUR 1.04 billion ($1.2 billion) in Q3, led by Bulgari's diverse product lines and new high-end label Wild Pop.
- Other jewelry brands Chaumet and Fred also showed sales growth, while watch brands TAG Heuer and Hublot performed strongly, with Hublot opening a new boutique in London.
- For the first nine months, jewelry and watch revenue increased 14% to EUR 3.02 billion ($3.47 billion), contributing to a 10% overall group sales growth in Q3.
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