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LVMH’s watch and jewelry sales surpasses $2.2bn in first six months of 2019

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LVMH’s watch and jewelry sales surpassed €2 billion ($2.2bn) during the first half of 2019.

The category contributed to a group-wide rise in revenue of 15%, hitting a record high €25.1 billion ($27.8bn).

The watches and jewelry business was actually the luxury conglomerate’s weakest performer, but it still recorded organic revenue growth of 4%, which LVMH saying was driven by jewelry.

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Bvlgari and TAG Heuer were both named as strong performing brands.

LVMH chairman and chief executive officer, Bernard Arnault, states: “LVMH has made an excellent start to the year. These results once again illustrate the effectiveness of our strategy and the exceptional desirability of our maisons, whose products transcend time. Their constant demand for quality and their consistently refreshed creativity are key to LVMH’s success, always guided by a long-term vision, combining exemplarity and responsibility in all the company’s actions.

“Despite buoyant demand, we will continue to manage costs and remain vigilant into the second half of the year. We are therefore entering the second half of the year with confidence and count on the talent of our teams and their shared entrepreneurial passion to further increase, once again in 2019, our leadership in the world of high-quality products.”

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Alex Douglas

The author Alex Douglas

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