LVMH's Q1 Watches, Jewelry Up 12%

-- JCK-Jewelers Circular Keystone, 4/16/2008 9:44:00 AM

LVMH, Moët Hennessy Louis Vuitton's Watches & Jewelry business rose 12 percent to approximately $337 million for the first quarter of 2008.

The world’s leading luxury group said that TAG Heuer performed extremely due to its Grand Carrera collection. Also during the quarter, Zenith launched a new model, Chronomaster Grande Date. The "exceptional success" of the Christal collection was confirmed at Montres Dior. Chaumet. De Beers increased their revenue and continued their network expansion. Innovations by TAG Heuer, Zenith, and Dior unveiled at the Basel fair contributed to large increases in orders.

The Paris-based luxury goods group—whose products also include perfume, cosmetics, fashion, leather goods, and wine and spirits—reported that its total revenue rose 5 percent for the period to approximately $6.4 billion.

The company said it expects to "continue its growth in 2008 despite the challenging monetary environment and an uncertain economic climate at the beginning of this year."