LVMH Watches and Jewelry Group +10% in First Half of 2015
July 29, 15
(IDEX Online News) – LVMH Moӫt Hennessy Louis Vuitton (LVMH) reported that its Watches and Jewelry business group recorded organic revenue growth (at constant exchange rates) of 10 percent in the first half of 2015. Overall, LVMH recorded a 19-percent increase in first half 2015 revenue to €16.7 billion ($18.4 billion).
In the second quarter, revenue increased by 23 percent, to €1.55 billion ($1.71 billion), up from €1.266 billion ($1.39 billion) in the same period in 2014. Organic sales growth was 9 percent, marking an increase from the first quarter.
The company said Bvlgari showed strong growth in its results, fuelled by the success of jewelry lines and women’s watches Lvcea and Serpenti, while TAG Heuer refocused its range and continued to reposition its core offering.
LMVH also recorded a strong start to the year for the Hublot watch brand on the back of new collaborations with artists and athletes in which it presented several new watches at the Baselworld fair and developed a partnership between TAG Heuer, Google and Intel to launch a smart watch.
The company said that it intends to strengthen high-end jewelry at Bvlgari, increase selectivity in multi-brand retailers and introduce a new Hublot manufacturing facility.