LVMH WATCHES & JEWELLERY GROUP Q1 REVENUE RISES SHARPLY
Luxury group LVMH has reported a 14% increase in revenue year-on-year to €879 million ($932.1 million) for its Watches & Jewellery business group in the first quarter of 2017. According to Gem Konnect, overall revenue for LVMH in Q1 totalled €9.9 billion ($10.5 billion) – an increase of 15% year-on-year.
Positive growth was achieved in Asia, Europe and the US. In the Watches & Jewellery business group, LVMH said “Bvlgari gained market share and continued to innovate with new models in its emblematic jewellery lines”. Additionally, TAG Heuer “successfully launched its new Connected Modular 45 watch”.
אhe company added that several of the group’s watch brands at the Baselworld watch fair were given “an excellent reception”, including “a new edition of the Autavia by TAG Heuer, the new Octo Finissimo Automatic and Serpenti Skin watches by Bvlgari and the Defy El Primero 21 by Zenith”.