LVMH has reported that its Watches and Jewelry business group recorded organic revenue growth of 4% in the first half of 2016 to $1.77 billion, according to multiple reports. In the second quarter, revenue increased by 2% compared to the same period in 2015.
The company said the Bvlgari brand continued its growth and “outperformed the market”. Tag Heuer also gained market share. “LVMH’s results for the first half of 2016 reflect, more than ever, the strength of our business model, which allows us to continue to grow even during an unstable geopolitical environment and economic and monetary uncertainties,” said LVMH chairman and CEO Bernard Arnault.
LVMH’s watch and jewelry brands include Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd.
