INDUSTRY NEWS : LVMH reports strong first half of 2017

The LVMH Group has announced that its profit from recurring operations in the first half of 2017 jumped 23%, with revenue increasing 15% year-on-year to €19.7 billion in the first half of 2017.

Bernard Arnault also paid €12 billion to bring Christian Dior into the LVMH portfolio, and the Group’s 80% stake in Rimowa also helped sales figures.

All of the group’s five main divisions posted double-digit revenue growth in the second quarter.

The watches and jewellery division, which is the one that we are most interested in, posted revenue growth, with Bvlgari playing an important part in the rise in sales, notably in China and Europe. Their strength has been attributable in large part to the Serpenti and B-Zero 1 lines, and the new Octo Finissimo watch.

TAG Heuer also experienced solid revenue growth in a what is still a tough period for the watch market, with the Carrera, Aquaracer and Formula 1 collections the key performers, plus the TAG Connected.

LVMH said it had recorded strong sales growth in Europe and Asia and a solid performance in the U.S., but remains cautious about the second half of 2017, due to uncertain geopolitical issues.

For full details click on this link.

Categories: Industry news, News, Switzerland, watches

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