LVMH Moët Hennessy Louis Vuitton (LVMH) announced watches and jewellery revenue grew 19 percent year-on-year to€3.31 billion in 2015 with stronger Bvlgari results and a successful refocusing of TAG Heuer.
According to the company’s 2015 annual report, the watches and jewellery business group recorded organic revenue growth of eight percent. Profit from recurring operations increased by 53 percent. Bvlgari had an excellent year driven by its iconic creations and its new Diva and Lvcea collections. Bvlgari’s stores delivered excellent performances. The watch brands were impacted by the cautious purchasing behaviour of multi-brand retailers. TAG Heuer launched with success its smartwatch developed in partnership with Google and Intel while continuing to develop its core offering. Given its strong growth, Hublot strengthened its production capacity with the opening of a second manufacturing facility in Nyon, Switzerland.
The luxury products group recorded revenue of €35.7 billion in 2015, an increase of 16 percent over the previous year. Organic revenue growth was 6 percent. The group turned in strong momentum in Europe, the United States and Japan while other Asian countries demonstrate contrasting tendencies.
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