‘LVMH Moët Hennessy Louis Vuitton saw a rise in jewelry and watch sales in the third quarter, led by a strong performance at its Bulgari brand, it said Wednesday.
Revenue for the category increased 8% to EUR 1.13 billion ($1.24 billion) for the three months ending September 30.
Growth at Bulgari was led by sales in its self-owned stores, while its Serpenti, B.Zero1, Diva and Fiorever lines, as well as the new Serpenti Seduttori watch collection, were strong performers. Watch brand TAG Heuer performed well, as did Hublot, which made “solid progress,” benefiting from new models from several collaborations, the luxury group said.
In the first nine months of the year, revenue from jewelry and watches advanced 8% to EUR 3.26 billion ($3.59 billion).
Group sales for the third quarter — including jewelry, wines and spirits, fashion, and cosmetics — grew 16% to EUR 38.4 billion ($42.31 billion).’
Source – Rapaport
