LVMH Watch and Jewelry Sales Jump 29%

LVMH October 2010 Earnings Report

Revenue for the Watches and Jewelry division of LVMH, the world’s largest luxury group, climbed to €687 million for the first nine months of 2010, an increase of 29% over the same period last year. Overall LVMH achieved revenue of €14.2 billion for the period, up 19% over 2009. The company noted that momentum continued to be very strong in Asia, Europe and America.

LVMH reported that TAG Heuer benefited from the new models launched for its 150th anniversary, while Hublot gained market share due to the excellent performance of its Big Bang and King Power lines. The group said that Zenith’s new collections were also very favorably received. The jewelry brands Chaumet, Fred and De Beers also enjoyed strong growth.

LVMH shares are up more than 40 percent this year.

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