LVMH Q1 Watch & Jew­ellery Sales +14%

Solitaire - - SPECTRUM -

LVMH Moët Hen­nessy Louis Vuit­ton said its watch and jew­ellery busi­ness group reg­is­tered rev­enue growth of 14% to €879 mil­lion in the first quar­ter of 2017. The com­pany saw a good start to the year, es­pe­cially in Europe and Asia. Bvl­gari continued to strengthen its iconic lines with the B.zero1 col­lec­tion rein­ter­preted by the late Zaha Ha­did. Dur­ing the three-month pe­riod, Bvl­gari in­au­gu­rated its Valenza jew­ellery man­u­fac­tur­ing fa­cil­ity, and Chaumet in­tro­duced its new In­so­lence jew­ellery col­lec­tion.

In March this year De Beers Group pur­chased LVMH’s 50% share­hold­ing in De Beers Di­a­mond Jewellers to take full own­er­ship of the com­pany. LVMH’s watches and jew­ellery di­vi­sion com­prises Bvl­gari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred and Hublot.

“Bvl­gari gained mar­ket share and continued to in­no­vate with new mod­els in its em­blem­atic jew­ellery lines. TAG Heuer suc­cess­fully launched its new Con­nected Mo­du­lar 45 watch. Sev­eral in­no­va­tions pre­sented by LVMH’s watch brands at the Basel­world watch fair were given an ex­cel­lent re­cep­tion, in­clud­ing a new edition of the Au­tavia by TAG Heuer, the new Octo Finis­simo Au­to­matic and Ser­penti Skin watches by Bvl­gari and the Defy El Primero 21 by Zenith,” the firm said.

Dur­ing the first quar­ter, LVMH ben­e­fited from a favourable com­par­i­son base, par­tic­u­larly in Europe, where ac­tiv­ity was af­fected last year by the im­pact of the Novem­ber 2015 at­tacks in Paris.

“In a par­tic­u­larly un­cer­tain en­vi­ron­ment, LVMH will con­tinue to fo­cus its ef­forts on de­vel­op­ing its brands, main­tain strict con­trol over costs and tar­get its in­vest­ments on the qual­ity, ex­cel­lence and in­no­va­tion of its prod­ucts and their dis­tri­bu­tion. The group will rely on the tal­ent and mo­ti­va­tion of its teams, di­ver­si­fi­ca­tion of its busi­nesses and good ge­o­graph­i­cal bal­ance of its rev­enue to re­in­force, once again in 2017, its global lead­er­ship po­si­tion in lux­ury goods,” it stated.

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