Improved confidence in jewellery sector revealed on LVMH's first six months results
30 Jul 2010
The world's leading luxury brand, LVMH recorded revenue of 9.1 million Euro in the first six months of 2010 with an increase of 16% for the overall business. The jewellery and watches sector reported revenue growth of 28% and a 145% increase in profit.The revenue is reported with an increase from 346 million Euro in 2009 to 443 million Euro in 2010 for the same period of time.
The group generated extensive sales leverage and opportunities with improved confidence in jewellery sector. Strong demands from consumers in China and United States were sector recorded upon 150th anniversity of Zenith, Fred, Chaumet and De Beers in stores with new collections contributed to its robust revenue growth.
Bernard Arnault, Chairman and CEO of LVMH commented the record as a result of appeals of the brands and the effectiveness of strategies. He said "The Group approaches the end of the year with confidence and is relying upon the creativity and quality of its products as well as the effectiveness of its teams to pursue further market share gains in its historical markets. " All business group achieved double-digit organic revenue growth with impressive performance in Asia, the United States and Europe in the first half yar while numerous plans of product launches are underway for its expansion in new markets.
If you have a JewelleryNetAsia account, please Login. If not, Register Now