At 34%, Watches & Jewelry are LVMH’s Top Growth Group in Q1

LVMH Moët Hennessey Louis Vuitton posted first quarter revenues of €4.5 billion ($6.15 billion). Organic growth stood at 13 percent compared to 2009. The Watches & Jewelry business group posted revenues of €204 million ($277 million) in the first quarter, a 34 percent year-over-year increase.

The luxury products company said all of the business groups recorded double-digit organic revenue growth, adding that it continues to perform well in Asia and has seen a strong rebound in the U.S. and Europe.

The Watches & Jewelry and Wines & Spirits groups benefited from the end of destocking by distributors seen throughout 2009 and from a recovery in final consumer demand.

Fashion & Leather Goods sales rose 10 percent to €1.73 billion ($2.35 billion). In Perfumes & Cosmetics, organic revenue growth stood at 12 percent, rising to €736 million ($1 billion).