RAPAPORT... Sales of watches and jewelry at LVMH Moët Hennessy Louis Vuitton rose 20 percent year on year during the first fiscal quarter at a constant exchange rate to $371 million (EUR 261 million). Total company revenue rose 14 percent to $7.46 billion (EUR 5.25 billion).
The LVMH Group considered revenue growth across all categories to be an excellent start of the year. The United States, Europe and Asia enjoyed strong momentum.
The watches and jewelry business group was supported by performance of its own boutiques as well as that of multi-brand retail stores, such as De Beers Diamond Jewellery. The watch-making brands revealed their first class innovations at Baselworld. TAG Heuer strengthened its iconic Carrera collection of chronographs with a technical ability unique in the world. Zenith, with strong growth, continued the renovation of its Manufacture in Le Locle. Hublot benefited from the strong momentum of its Big Bang and King Power lines and the opening of its own boutiques, notably Place Vendôme. Chaumet’s new Bee My Love collection was very well received. LVMH considered its announcement to take control of Bulgari to be a key highlight of the quarter.