A Celebration of Jewelry and the Business Behind the Beauty
Leibish & Co
Thursday, October 14, 2010
LVMH Watches and Jewelry Up 29%
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury group, said Thursday that revenue for its Watches & Jewelry business group grew at a record pace of 29 percent in the first nine months of 2010 with many of its iconic brands leading the way. Organic growth, when currency fluctuations were not taken into account, was 22 percent. This business group outperformed all other product categories for the international luxury retail conglomerate.
TAG Heuer, which has been expanding worldwide, has benefited from the new models launched for its 150th anniversary celebration. Hublot gained market share due to the “excellent performance” of its Big Bang and King Power lines, the company said. Zenith’s new collections were “very favorably received.” The jewelry brands Chaumet, Fred and De Beers also reported strong growth.
The company as a whole achieved revenue of €14.2 billion ($20 billion) in the first nine months of 2010, a year-over-year increase of 19 percent, LVMH said. Organic revenue growth was 14 percent for the period. Without releasing exact numbers, the company said Asia, Europe and America performed well.
In addition, all its product categories achieved double-digit growth. The results are as follows:
This blog is for those who are passionate about jewelry and watches and want to learn more about the industry. It's a place to find the best new products from all over the world and the latest news about the business of jewelry, watches and luxury. Readers gain a backstage pass to the glamour, fun and difficulties of the industry.
I am a freelance writer and editor who covers the luxury jewelry and watch industry for several publications, including Forbes.com the Financial Times, Hong Kong-based JewelleryNetAsiaand the Italian jewelry magazine, VO+. In addition, I have my own blog covering the jewelry and watch industry, Jewelry News Network.