LVMH Moët Hennessy Louis Vuitton recently reported that year-over-year organic revenue growth (meaning with comparable structure and exchange rates) for jewelry and watches was 20 percent in the first quarter.
Reported revenue growth was 9 percent, with total sales rising from €879 million ($1.08 billion) to €959 million ($1.18 billion).
LVMH said Bulgari “enjoyed an excellent performance” and continues to gain market share on the back of its most well-known lines, Serpenti, B.Zero 1, Diva and Octo. Also in the first quarter, Chaumet unveiled a new high jewelry collection and Hublot introduced the Big Bang Sapphire Tourbillon at Basel, while Zenith came out with Defy. TAG Heuer, another of the division’s top-performing brands, paid homage to the 55th anniversary of its popular Carrera line with a number of new watches.
Watches & Jewelry recorded the highest year-over-year Q1 revenue growth of any LVMH division. Overall, LVMH recorded an organic revenue increase of 13 percent in the first quarter and reported revenue increase of 10 percent for the period, with sales rising from €10.85 billion ($13.43 billion) in Q1 2018 compared with €9.88 billion ($12.18 billion) Q1 2017.