LVMH Group (LVMH), a global leader in high-quality luxury goods, achieved revenues of 38.4 billion euros in the first nine months of 2019, a year-on-year increase of 16%. Compared with the same period in 2018, endogenous revenue increased by 11%.
Revenue in the third quarter increased by 17% compared to the same period in 2018, and endogenous revenue increased by 11%, continuing the trend since the first half of the year. Despite the difficult situation in Hong Kong, China, both the US and European markets made good progress in the third quarter, as did the Asian market.
Watches and Jewellery:
Driven by the jewelry business, endogenous revenue from the watch and jewelry division in the first nine months of 2019 increased 4% year-on-year. BVLGARI has achieved outstanding results, especially in its own boutiques. Its iconic Serpenti, B.zero1, Diva and Fiorever jewellery, and the new SerpentiSeduttori watch series all help. Following Beijing in 2017 and Tokyo in 2018, Shangmei Paris will host the new ‘ChaumetinMajesty.JewelsofSovereignssince1780’ theme exhibition in Monaco this summer. In terms of timepieces, TAGHeuer continues to focus on the iconic series, Hublot has also achieved steady development, continues to push new through cooperation, and enrich the product line.
Looking forward to 2019
Despite the geopolitical uncertainty, the LVMH Group will remain vigilant in a booming environment since the beginning of this year. LVMH Group will pursue a strategy of focusing on innovation and targeted regional expansion in promising markets. LVMH will rely on brand strength and team talents to enable the Group to further consolidate its leadership in the world of premium luxury goods in 2019. (Photo / text watch home Xu Chaoyang)