LVMH Moët Hennessy Louis Vuitton has announced a 4-percent increase in revenue to 21.4 billion euros over the first nine months of 2014, with its watches and jewellery business achieving organic revenue growth of 5 percent to over 1.9 billion euros.
“The third quarter showed a notable acceleration in jewellery segment, driven notably by Bulgari, while watches continued to be impacted by the cautious purchasing behaviour of multi-brand retailers in an uncertain economic environment。 The launch of the new watch for women Lvcea by Bulgari and the success of Hublot’s iconic lines were the key highlights of the quarter,” said LVMH on 14 October.
LVMH’s watches and jewellery division currently comprises Bulgari, TAG Heuer, Chaumet, Dior, Zenith, Fred, Hublot and De Beers Jewellers.
For market outlook, the company said: “In an uncertain economic and financial environment, LVMH will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets. LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2014.”
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