LVMH Moët Hennessy Louis Vuitton (LVMH) recorded revenue of 9.9 billion euros for Q1 2017, an increase of 15 percent over the same period in 2016, with the watch and jewellery business achieving a growth of 14 percent. Positive growth was achieved in Asia, Europe and the United States.
The high quality products group said it benefited from a favourable comparison base, particularly in Europe where activity was affected in 2016 by the impact of the November 2015 attacks in Paris.
For the watch and jewellery sector, Bulgari gained market share and continued to innovate with new models in its emblematic jewellery lines, LVMH said. “TAG Heuer successfully launched its new Connected Modular 45 watch. Several innovations presented by LVMH’s watch brands at the Baselworld watch fair were given an excellent reception, including a new edition of the Autavia by TAG Heuer, the new Octo Finissimo Automatic and Serpenti Skin watches by Bulgari and the Defy El Primero 21 by Zenith.”
In facing the uncertain environment, the group says it will keep focusing its efforts on developing its brands, maintaining strict control over costs and targeting its investments on the quality, excellence and innovation of its products and distribution.
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