In the first nine months of 2016, sales of the LVMH Group’s watch and jewelry division increased by 4% year-on-year to reach 2.486 billion euros. Affected by this, the luxury group’s total sales in the first three quarters of this year increased by 5% year-on-year, reaching 26.326 billion euros. The revenue range exceeded analysts’ expectations. LVMH Group’s share price rose by 5% and rose to 165.75 euros per share on October 11, which is a record high in 12 months.
In the financial report issued by the LVMH Group, Bulgari was mentioned separately and its market share increased. Thanks to the success of the new series and the Connected smartwatch, TAG Heuer has made great progress in a difficult market environment. Hublot continues to develop iconic collections such as classic fusion and the Big Bang.
The regional differences are not only reflected in the watch and jewellery divisions. The financial report also commented on the regional sales differences of the entire group. This does not include France, which continues to be affected by the weakness of the tourism industry. ‘
Bernard Arnault, Chairman and CEO of LVMH Group, said: ‘The performance of LVMH in the first half of 2016 reflects the advantages of the Group’s business model more than ever. This business model enables the Group to Facing the unstable geopolitical environment and uncertain economic exchange rate situation, we can still continue to grow. Diversity of business, brand entrepreneurial style and flexible organization are all positive factors for the sustainable growth of the Group. We remain vigilant, But at the same time, I am full of confidence in the second half of this year and believe that we can rely on product quality and team talents to further consolidate the Group’s leadership in the world of high-quality luxury goods in 2016. ‘