Jewelry, Watches Lead LVMH First Half Growth

LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury products group, reported organic sales growth of 14 percent in the first half of this year, with watches and jewelry showing the largest rise.

Organic growth in the watches & jewelry group was 32 percent with a rise in sales to 235 million euros ($288 million) from 210 million euros ($257 million) in the first half of last year.

Organic growth excludes any growth from takeovers, acquisitions, or mergers.

Organic growth in Fashion & Leather Goods was 11 percent with a rise in sales to 2.022 billion euros ($2.478 billion) from 1.896 billion euros ($2.324 billion) in the same period of last year.

Overall, sales rose to 5.676 billion euros ($6.958 billion) from 5.236 billion euros ($6.419 billion) last year.

“The Watches & Jewelry business group continues to reap the benefits of innovation and brand portfolio rationalisation,” LVMH said. “TAG Heuer achieved very strong sales growth over the period and also grew market share. Zenith started off the year with a very strong performance in the US and Japan.”

LVMH said Louis Vuitton continued to achieve double-digit sales growth and was particularly strong in the U.S. and Asian markets. Meanwhile, in Europe, an upturn in tourist traffic was matched by strong local demand, and sales in Japan also continued to grow.

“Louis Vuitton continues with its dynamic and innovative spirit through the new collection of rigid bags, called Bellaix, and a complete jewelry line designed by Marc Jacobs,” LVMH added.