Tag Heuer, one of LVMH's top performing watch brands
LVMH watch and jewellery sales jump
Posted October 19, 2010 | By Sonia Nair
World-leading luxury group LVMH achieved revenue of €14.2 billion ($20 billion) in the first nine months of 2010, a 19 per cent increase compared with the same period last year.
Watches and jewellery sales accounted for €687 million, 4.8 per centof total sales – an increase of 28.9 per cent against the €533 million, 4.5 per cent of total sales recorded for the category in 2009.
Despite the lowest total sales, watches and jewellery posted the strongest gains year on year.
Fashion and leather goods recorded the highest total sales followed by selective retailing, wines and spirits and perfume and cosmetics.
LVMH continue to perform well in Asia, Europe and America. It said contributing factors to its growth in revenue included Tag Heuer’s worldwide expansion, the launch of new models coinciding with its 150th anniversary celebration, gains in Swiss luxury watch brand Hublot market share and positive responses to its new watch brand Zenith collection.
Separately, LVMH has been ranked highly in an independent survey measuring “digital IQ”. With its seven brands, the combined group registered a digital IQ 18 points higher than the average. LVMH’s Tag Heuer and Hublot brands achieved some of the highest IQs in the watch and jewellery category.
The report links digital competence to traffic growth and increase in revenue.