Tiffany & Co's "Excellent" Half YearAugust 04, 22
(IDEX Online) - LVMH saw H1 revenue rise by 28 per cent, to $37.3bn, as Tiffany & Co. enjoyed an "excellent" half-year.
The French luxury conglomerate said all its business groups achieved double-digit organic revenue growth over the period.
Watches and jewelry grew by 16 per cent and they saw a 26 per cent increase in profit from recurring operations, up to $1bn for H1 2022.
"Tiffany & Co. enjoyed an excellent half-year, still driven by strong momentum in the United States," it said. It also singled out Bulgari, Chaumet and Fred, TAG Heuer, Hublot and Zenith for mention.
Bernard Arnault, chairman and CEO of LVMH, said: "We approach the second half of the year with confidence, but given the current geopolitical and health situation, we will remain vigilant and count on the agility and talent of our teams to further strengthen our global leadership position in luxury goods in 2022."