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LVMH Moet Hennessy Louis Vuitton (LVMH) reported recently that its Watches and Jewelry business group recorded an organic revenue growth of 4 percent during in the first half of 2016.
In the second quarter, revenue increased by 2 percent compared to the same period in 2015.
The company said that it had outperformed the market during the period and was due to an excellent performance from Bvlgari, which continued its growth and outperformed the market. Tag Heuer also gained market share and recorded the first positive effects of the development of its Connected watch.
“LVMH’s results for the first half of 2016 reflect, more than ever, the strength of our business model, which allows us to continue to grow even during an unstable geopolitical environment and economic and monetary uncertainties,” said LVMH chairman and CEO Bernard Arnault.
LVMH’s watch and jewelry brands includes Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd.