Designers

Jewellery and watch profits up 4% for LVMH

The jewellery and watches division of luxury goods group (LVMH) has reported a 4% increase in revenues for the first nine months of the year.

The division was boosted by a strong performance from Bvlgari, which continued to gain market share. The brand showed “major creative” momentum by enhancing its iconic product lines, notably with the recent launch of the Serpenti Seduttori collection.

The company said Tag Heuer made “great” progress in a difficult market, benefiting particularly from the success of its new collections and its smartwatch, while watch brand Hublot also continued development of its ‘Classic Fusion’ and ‘Big Bang’ ranges.

Meanwhile, french jewellery and watch brand, Chaumet, furthered its progress, driven by the success of its ‘Joséphine’ and ‘Lien’ collections.

Overall, the company recorded a 4% increase in revenue to €26.3bn (£23.7bn), for the first nine months of 2016.

LVMH said it will continue its strategy focused on innovation and targeted expansion in promising markets, despite the “uncertain geopolitical and currency environment”.

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