Revenue from LVMH’s jewellery and watch brands increased by 3 per cent on a year-on-year comparison in the first half of the financial year, headlined by strong demand in the US and Asian markets.
Sales from the company’s jewellery brands specifically reached €5.23 billion ($AUD8.57 billion), with profit increasing by 9 per cent. Rodolphe Ozun, director of financial communications at LVMH, identified Tiffany & Co. and Bulgari as strong performers.
“Jewellery recorded an excellent performance in the first half of the year, including double-digit growth in the second quarter and positive growth across all key regions, driven by the US, Asia and Japan,” he said.
Revenue from watches and jewellery brands declined modestly in the first quarter, which was attributed to geopolitical factors.
LVMH oversees the operations of more than 70 brands, including Tiffany & Co., Bulgari, Kering, and TAG Heuer. Overall group revenue decreased by 3 per cent to €38.64 billion ($AUD63.34 billion) for the half, and profit declined by 4 per cent.
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