LVMH Jewelry Sales Flat in Q1

(IDEX Online News) – The watches and jewelry business group of LVMH reported near flat first quarter results. Revenue for the business group totaled €624 million, an organic revenue growth of 2 percent, yet a 1 percent decline on a reported basis.

LVMH said that this performance was achieved “in a context of prudent buying by multi-brand retailers.”

Bulgari reported a success with its Serpenti line and strong revenue growth in its own stores.

TAG Heuer’s first quarter was marked by the 50th anniversary of its Carrera line and the new partnership with McLaren which was announced at the Geneva Motor Show. Hublot and Zenith also had a good start to the year.

LVMH reported a 6 percent increase in revenue for the entire group, totaling €6.9 billion.