LVMH Watches & Jewelry Group +7% in Q1 2015April 14, 15
(IDEX Online News) – LVMH Moët Hennessy Louis Vuitton (LVMH) reported that its Watches & Jewelry business group recorded organic revenue growth (with comparable structure and constant exchange rates) of 7 percent in the first quarter of 2015. Overall, LVMH recorded a 16 percent increase in first quarter 2015 revenue to €8.3 billion ($8.77 billion). Organic revenue growth was 3 percent compared to the same period in 2014.
The company said Bvlgari continued to deliver good growth driven by the success of its jewelry collections and its new Lvcea watch for women. Hublot had a very good start to the year while TAG Heuer continued to refocus on its core offering.
LVMH watch brands introduced several innovations at the Basel watch fair, during which a partnership between TAG Heuer, Google and Intel to launch a smartwatch was announced.
Looking to the future, LVMH said it will continue to focus its efforts on developing its brands and will maintain strict control over costs.
LVMH’s watch and jewelry brands comprise Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd.