LVMH’S WATCHES AND JEWELLERY BUSINESS GROWS IN Q1
LVMH Moët Hennessy Louis Vuitton has had a very good first quarter this year. According to a press release, LVMH recorded revenue of 12.5 billion Euros ($14.1 billion) during the first quarter of 2019 – an increase of 16% year-on-year. LVMH said that “all geographic regions are experiencing good growth”.
The group’s watches & jewellery business group recorded organic revenue growth of 4% in the first quarter, “driven by the performance of its jewellery”. All in all, LVMH’s watches & jewellery business group raked in a revenue of 1.046 billion Euros ($1.176 billion).
According to LVMH, Bvlgari made “strong progress” in its own stores, and Chaumet unveiled its new Liens Evidence creations in gold and diamonds. The watches presented by LVMH’s watch brands at the Baselworld Watch & Jewelry Fair “were very well received”, according to the group.