Revenue for luxury group LVMH Moët Hennessy Louis Vuitton jumped 13 per cent to $13.2 billion US in the first six months of the year.
The company says strong demand for watches and jewellery across all regions saw total revenue for the category increase by 30 per cent to $628 million US, while total profit climbed 73 per cent to $71 million.
LVMH partly credits launches of several new watch models by Zenith, TAG Heuer, Hublot, and Dior for the results.
“LVMH’s excellent performance in the first half”¦ demonstrates the exceptional appeal of our brands, the attraction of our high-quality artisanal products, and the pertinence of our strategy,” said LVMH chair and chief executive officer (CEO) Bernard Arnault.
“The first half was marked by the agreement with the Bulgari family to strengthen the long-term growth. This alliance will bring significant advantages both to Bulgari and to LVMH. We approach the second half of the year with confidence and are relying upon the creativity and quality of our products, as well as the effectiveness of our teams, to pursue further market share gains in our historical markets, as well as in high-potential emerging markets.”
The outlook for the remainder of the year is also expected to be positive, LVMH said, due to further product launches and expansion into new markets
