Bulgari’s Diva collection noted as important launch in Q3.
By Hallie Engel
Luxury conglomerate LVMH, owner of jewellery brands Bulgari, De Beers and Fred, earned €20.7 billion (£17.48 billion) in revenue during the first nine months of 2013.
The figures reflect an increase of 4% when compared with the same time period in 2012. The company also reported organic group revenue rise by 8% in the third quarter.
LVMH’s watch and jewellery business showed organic revenue growth of 3% for the first nine months of 2013, totalling €1.98 million (£1.68m). Its own store sales were described as excellent and all of its watch and jewellery brands continue to expand their store networks around the world, which LVMH says helps to strengthen its "quality of distribution".
The luxury group outlined Bulgari’s new high jewellery collection Diva as one of its leading initiatives in the third quarter.
Sales in Europe for the company have demonstrated "good resilience," according to a press release, while Asia and the United States continue to experience "strong growth."
LVMH also stated it "remains confident" about the remainder of the year and will continue its expansion in the strongest markets.