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Luxury juggernaut Moët Hennessy Louis Vuitton (LVMH) has reported improved performance among its watch and jewellery brands in its latest financial report. | Source: Shutterstock
Luxury juggernaut Moët Hennessy Louis Vuitton (LVMH) has reported improved performance among its watch and jewellery brands in its latest financial report. | Source: Shutterstock

Positive jewellery sales momentum for luxury leader

Luxury juggernaut Moët Hennessy Louis Vuitton (LVMH) has reported improved performance among its watch and jewellery brands in its latest financial report.

Revenue among watch and jewellery brands increased by eight per cent on a year-on-year comparison, reaching €EUR 2.5 billion ($AUD4 billion) in the three months ending 30 September.

Sales increased 4 per cent to €EUR 7.73 billion ($AUD12.4 billion) in the first nine months, recovering from a slow first quarter.

Regional performance was mixed. Weaker business activity in China was offset by strong growth in the US, Europe, and Japan.

The group's third-quarter revenue increased by 1 per cent to €EUR 18.5 billion ($AUD29.9 billion). Revenue for the first nine months declined by 1.6 per cent to €EUR 57.15 billion ($AUD92.3 billion), reflecting ongoing pressure in the broader luxury market.

LVMH oversees the operations of more than 70 brands, including Tiffany & Co., Bulgari, Kering, and TAG Heuer.

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