LVMH Moet Hennessy Louis Vuitton’s watches and jewelry business group recorded organic revenue growth of 7% in the first quarter of 2016, outperforming the market, according to a press release from the company, whose jewelry brands include LVMH’s Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd.
Bvlgari recorded an excellent performance driven by the success of its iconic jewelry collections and innovations, notes the press release. TAG Heuer had a good quarter, benefiting from its successful strategy of focusing on its core offering. The new connected smartwatch was an immense success. A number of LVMH watch brand innovations were extremely well received at the Basel Watch fair.
The US market is strong and Europe remains well oriented except for France which is affected by a fall in tourism. Asian markets are varied, but Japan continues to progress, explains the press release.
LVMH will continue to focus its efforts on developing its brands, will maintain a strict control over costs and will target its investments on the quality, the excellence and the innovation of its products and their distribution.
