LVMH Jewelry and Watch Sales Up

By Rapaport News / October 10, 2018 / www.diamonds.net / Article Link

RAPAPORT... LVMH Mot Hennessy Louis Vuitton saw a rise in jewelry andwatch sales in the third quarter, led by a strong performance at its Bulgaribrand, it said Tuesday. Revenue for the category increased 10% to EUR 1.04 billion($1.2 billion) for the three months ending September 30. Bulgari's sales growth was led by its Serpenti, Diva,B.Zero1, Lvcea and Octo lines, as well as the launch of its new high-endjewelry label, Wild Pop. Sales at Chaumet and Fred also progressed well, theluxury-jeweler said. Watch brand TAG Heuer performed strongly, as did Hublot,which opened its first stand-alone boutique in London during the quarter. In the first nine months of the year, revenue from jewelryand watches rose 14% to EUR 3.02 billion ($3.47 billion). Group sales for the third quarter - including jewelry, winesand spirits, fashion and cosmetics - grew 10% to EUR 11.38 billion ($13.07billion). Image: Bulgari store, Hong Kong. (Rityaecinos)