LVMH has reported a 14% increase in revenue, reaching €30.1 billion, for the first nine months of 2017.
All business groups recorded double-digit organic growth, with the exception of Wines and Spirits. Sales of watches and jewellery, which include TAG Heuer, Hublot, Bulgari and Zenith, rose by 13% to €2.8 billion in the nine months to September.
Jewellery was singled out in a trading statement for its contribution to the rise in sales, although watch brands also grew.
“Bulgari achieved a remarkable performance thanks in particular to the rapid growth of its signature jewellery collections Serpenti, Diva and B.Zero1. The launch of the new Festa high-end jewelry line was one of the highlights of the last quarter. Chaumet and Fred also contributed to the overall positive performance. In watches, TAG Heuer and Hublot continue to grow. The new products launched at the Basel trade show have had excellent results,” LVMH says.