Luxury group LVMH Moët Hennessy Louis Vuitton recorded revenue of €12.5 billion ($14.1 billion) for the first quarter 2019, an increase of 16 percent over the same quarter last year. Organic growth, maintaining the same structure and exchange rates, was 11 percent. The group reported that all geographic regions are experiencing good growth.
The Watches & Jewelry business group, which reported revenue for the period of €1.05 billion ($1.18 billion), recorded an overall revenue growth of 9 percent and an organic growth of 4 percent over the €959 million ($1.08 billion) reported in the first quarter of 2018.
The growth was driven by the performance of its jewellery segment. Bulgari made strong progress in its own stores, driven by its iconic Serpenti, Divas’Dream and Lucea lines, as well as its new Fiorever collection. Chaumet unveiled its new Liens Evidence creations in gold and diamonds.
A pop-up store opened in the Saint-Germain quarter in Paris while its historic store in Place Vendôme is under renovation.
The group said that the innovative products presented by its watch brands at the BaselWorld Watch & Jewelry Fair were very well received, including Hublot’s Classic Fusion Ferrari GT watch, Bulgari’s Serpenti Seduttori and Octo Finissimo Chronograph GMT automatic watches, TAG Heuer’s connected watch model for golfers, and Zenith’s new Defy Inventor and Defy El Primero 21 Carbon models.
LVMH said in a press release that in the buoyant environment of the beginning of this year, albeit marked by geopolitical uncertainties, it will continue to focus 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 their distribution.