LVMH sees 16% revenue growth in Q1

LVMH recorded a 16 percent increase in first quarter sales, or 3 percent with comparable structure and constant exchange rates.  The Paris-based luxury conglomerate’s Watches & Jewelry division was among the top-performing categories. LVMH Moët Hennessy Louis Vuitton stated that sales of its watch and jewelry brands rose 19 percent (7 percent with comparable structure and constant exchange rates) year-over-year, from $641 million to $763 million. Bulgari “continues to deliver good growth,” driven by the success of its staple jewelry collections and its new women’s watch, the Lvcea, while Hublot had a “very good start to the year” and the ladies’ quartz watch, a special edition created with new brand ambassador Cara Delevingne in mind, was among the new timepieces TAG Heuer introduced at Baselworld. LVMH owns TAG Heuer along with Hublot and Zenith. Total first quarter sales for LVMH hit $8.8 billion.