LVMH Revenue +16% in 2015; Jewelry and Watches +19%
February 03, 16
(IDEX Online News) – Luxury product group LVMH Moët Hennessy Louis Vuitton announced a 19-percent increase in revenue (8-percent organic growth) for its Watches & Jewelry division in 2015. Revenue increased from €2.78 billion ($3.05 billion) in 2014 to €3.3 billion.
The results were boosted by Bulgari’s strong performance, including the launch of its Diva and Lucea collections. TAG Heuer’s new smartwatch, developed in partnership with Google and Intel performed well, while Hublot’s opening of a second manufacturing facility in Nyon, Switzerland, has strengthened its production capacity.
“The 2015 results confirm the capacity for LVMH to progress and gain market share despite economic and geopolitical uncertainty. Revenue and operating profit reached new record levels,” said Bernard Arnault, LVMH chairman and CEO.
Overall, the group recorded a 16-percent increase in revenue in 2015. Revenue reached €35.7 billion ($39.2 billion) with organic revenue growing 6 percent.