LVMH Watch & Jewelry Sales €1.34 Billion in H1

(IDEX Online News) – LVMH's revenue in the first half 2012 soared 26 percent to €13 billion, proving that even with concerns of an economic decline, high-end jewelry and fashion have dedicated consumers.

Sales by the Watches & Jewelry business group totaled €1.34 billion, leaping 133 percent on a reported basis and 13 percent organic revenue growth.

Profit from watch and jewelry sales increased 87 percent to €159 million.

The main source of revenue growth in this category is Bulgari’s performance, consolidated since June 30, 2011.

"In jewelry, Bulgari reported an excellent performance across all of its product lines and benefited from the growing success of its Serpenti collection," LVMH reported.

The group's watch brands saw record orders during the watch fairs.

 LVMH's net profit rose to €1.68 billion, an increase of 28 percent.

"We approach the second half of the year with confidence," said Chairman and CEO Bernard Arnault.