LVMH Revenue +18% Year-to-Date; Jewelry and Watches +22%
October 13, 15
(IDEX Online News) – Luxury product group LVMH Moët Hennessy Louis Vuitton announced a 22-percent increase in revenue (10-percent organic growth) for its Watches & Jewelry division in the first nine months of the year. Revenue increased from €1.97 billion ($2.2 billion) in 2014 to €2.4 billion.
LVMH said Bvlgari performed “remarkably well,” driven by all product categories and all regions of the world while Hublot grew rapidly and increased its production capacity with the opening of its second production facility in Nyon, Switzerland.
The company also said that TAG Heuer continued the development of its core offering – its new smartwatch made in partnership with Google and Intel, which will be unveiled in November.
Overall, the group recorded an 18-percent increase in revenue for the first nine months of 2015. Revenue reached €25.3 billion ($28.8 billion) with organic revenue growing 6 percent.