LVMH Q1 Watches and Jewelry Organic Revenue Up 5%

(IDEX Online News) – LVMH Moët Hennessy Louis Vuitton reports organic revenue growth of 5 percent in the first quarter of 2014 for its Watches and Jewelry business group. Revenue totaled €607 million ($841 million).

The company said that its boutiques performed well and that the numerous innovations at TAG Heuer, Hublot and Zenith presented at the recent Baselworld show had received “a warm welcome from distributors.”

Overall, the company saw a 4-percent increase in first-quarter revenue to €7.2 billion $9.97 billion). Organic revenue increased 6 percent compared to the same period in 2013.

LVMH’s Watches and Jewelry division comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd, a joint venture created with De Beers.