LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, reported sales growth of 11 percent for the first nine months of 2006. Its jewelry and watch division saw a 22 percent increase in revenue during the same period.
LVMH reported revenues of $13.3 billion for the period. The company said Tuesday in a statement that it “continued to demonstrate strong momentum in the third quarter with double-digit organic revenue growth.”
Jewelry and watch sales totaled $613 million for the period, driven by TAG Heuer lines, Aquaracer and Carrera, the company said. The brand performed well in Europe, the U.S., and Asia. Zenith new sports line received good results upon its introduction and Defy recorded sustained growth. In addition, Christian Dior grew its Christal line while Chaumet opened its largest store worldwide in Hong Kong.
Its other divisions reported as follows:
* Wines & Spirits, $2.4 billion, 13 percent growth
* Fashion & Leather Goods, $4.67 billion, 10 percent growth
* Perfumes & Cosmetics, 2.26 billion, 12 percent growth
* Selective retailing, $3.4 billion, 7 percent growth
LVMH, in its outlook, said it is looking forward to a “very significant increase in its results in 2006.”