LVMH’s jewellery and watch sales surpassed €2 billion (£1.8bn) during the first half of 2019.

The category contributed to a group-wide rise in revenue of 15%, hitting a record high €25.1 billion (22bn).

The watches and jewellery business was actually the luxury conglomerate’s weakest performer, but it still recorded organic revenue growth of 4%, which LVMH saying was driven by jewellery.

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Bvlgari and TAG Heuer were both named as strong performing brands.

Bvlgari made good progress in its stores and continued to gain market share, with the iconic lines SerpentiB.Zero1Diva and Fiorever contributing heavily to this performance. Its new high-end jewellery collection, Cinemagia, was also very well received.

At Chaumet, the success of its Bee My Love collection and its iconic Liens and Josephine lines were the main growth drivers of the maison, while TAG Heuer continued to focus on its flagship lines.

LVMH chairman and chief executive officer, Bernard Arnault, states: “LVMH has made an excellent start to the year. These results once again illustrate the effectiveness of our strategy and the exceptional desirability of our maisons, whose products transcend time. Their constant demand for quality and their consistently refreshed creativity are key to LVMH’s success, always guided by a long-term vision, combining exemplarity and responsibility in all the company’s actions.

“Despite buoyant demand, we will continue to manage costs and remain vigilant into the second half of the year. We are therefore entering the second half of the year with confidence and count on the talent of our teams and their shared entrepreneurial passion to further increase, once again in 2019, our leadership in the world of high-quality products.”

 

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