LVMH Watch and Jewelry Sales €390 million in H1
July 29, 07
Sales at LVMH’s Watches & Jewelry division totaled €390 million in the first half of 2007, a 23 percent growth on a constant exchange rate basis (organic). Total revenue for the group was €7.4 billion, an organic growth of 12 percent.
All of the business divisions at the luxury group enjoyed double-digit organic revenue growth.
Group profit from recurring operations increased by 11 percent to €1,440 million, while profits in the watches and jewelry division grew 90 percent to €57 million.
De Beers progressed well in Asia and the United States, according to a company report.
TAG Heuer continued to expand its higher-end range of products and grew strongly in all of its markets, the company said, driven by the development of its iconic lines F1, Link, Aquaracer and Carrera.
LVMH expects continued growth thanks to the numerous product launches planned before the end of the year and to its geographic expansion. “These factors allow the group to confirm its objective of a significant increase in its 2007 results,” it reported.