LVMH watch division struggled in 2014

LVMH watch division struggled in 2014 due to “cautious purchasing” among retailers while Bulgari recorded strong sales according to a recent statement by the luxury goods conglomerate. The company said Bulgari’s iconic lines did well in 2014. LVMH Moët Hennessy Louis Vuitton recorded organic growth of 4 percent in its Watches & Jewelry division in 2014 VS 2013 though profit was recurring, operations was down 23 percent.
In addition to Bulgari, LVMH owns Chaumet, Fred, TAG Heuer, Hublot and Zenith and operates De Beers’ retail stores in a joint venture between with the diamond miner and marketer. As a consolidate group, LVMH recorded sales of $34.9 billion in 2014, organic revenue growth of 5 percent year-over-year. Organic revenue growth was 5 percent in the fourth quarter.