LVMH reports 14% sales increase for the first nine months of 2017

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LVMH has reported a 14% increase in revenue, reaching €30.1 billion (£26.7bn), for the first nine months of 2017.

All business groups recorded double-digit organic growth, with the exception of Wines and Spirits. Sales of jewellery and watches, which include Chaumet and Bulgari, rose by 13% to €2.8 billion (£2.4bn) in the nine months to September.

Jewellery was singled out in a trading statement for its contribution to the rise in sales, although watch brands also grew.

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“Bulgari achieved a remarkable performance thanks in particular to the rapid growth of its signature jewellery collections Serpenti, Diva and B.Zero1. The launch of the new Festa high-end jewellery line was one of the highlights of the last quarter. Chaumet and Fred also contributed to the overall positive performance. In watches, TAG Heuer and Hublot continue to grow. The new products launched at the Basel trade show have had excellent results,” LVMH reports.

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