Watches and jewelry at LVMH grew by 23 percent

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, on Tuesday reported revenue of $8.81 billion in the first half of 2006, reflecting an increase of 13 percent compared to the first half of 2005. This growth was similar in both the first and second quarters, and comes on top of high organic growth of 12 percent in the second quarter of 2005.

The company’s Watches & Jewelry sector led the way with revenue growth of 23 percent to $403 million. The Paris-based company said that the figure is particularly notable when compared to its exceptional performance in the same period last year. TAG Heuer continued its growth worldwide and expansion of its higher-end range, notably with the Carrera and Aquaracer lines. Zenith continued to progress well. Dior launched the Christal watch, which is already a major success.  

In other sectors for the first half of 2006: 

* Wine & Spirits recorded an 18% increase
* Fashion & Leather Goods reported a 12 percent increase
* Perfumes & Cosmetics a 13 percent increase
* Selective retailing a 7 percent increase.

LVMH said the first half performance allows LVMH to confirm its objective of achieving a very significant growth in its results for 2006.