LVMH watches and jewellery revenues surges 49%

LVMH’s Watches and Jewellery business group recorded organic revenue growth of 49% in the first nine months of 2021 compared to the same period of 2020.

The group also saw an increase in 4% compared to 2019, excluding Tiffany, which was consolidated for the first time in 2021. 

Driven by the “growing success” of its products, Tiffany saw an increased performance, particularly in the United States, its major market. 

The increase in revenues comes as several of its brand houses revealed new collections this year.

Bvlgari rolled out its new line of high-end jewellery, Magnifica, and celebrated its Serpenti creations at the Metamorphosis exhibition in Milan. 

Chaumet also launched a new high jewellery collection called Torsade, inspired by “the movement of the frieze adorning the column of the Place”.

In watchmaking, TAG Heuer launched a limited Super Mario edition of its smart watch for gaming enthusiasts.

LVMH said that with a gradual exit from the health crisis, the group is “confident in the continuation of its current growth”.

It will “maintain a strategy focused on continuously strengthening the desirability of its brands” by relying on the “authenticity and quality of its products, the excellence of their distribution and the reactivity of its organisation”.

source https://www.jewelleryfocus.co.uk/201758-lvmh-watches-and-jewellery-revenues-surges-49