LVMH reports large gains in jewelry and watch sales

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, on Thursday reported jewelry and watch sales of $292 million during the first half of 2004—an increase of 12% in reported terms, and 32% in organic terms when compared to the same period in 2003.

As a whole, the company’s first-half revenue was $6.97 billion, an 8% increase over $6.43 billion) a year earlier—including a 16 % increase for the second quarter.

“The Watches & Jewelry business group continues to reap the benefits of innovation and brand portfolio rationalization,” the company said in a statement. “TAG Heuer achieved very strong sales growth over the period and also grew market share. Zenith started off the year with a very strong performance in the U.S. and Japan.”