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·LMVH posted its 2017 1H earnings on July 26. The watches and jewelry department had an incredible year-over-year growth with a 14% increase in both revenue and profit. In the same period one year ago, revenue was up 4% with flat profit.
Watches & Jewelry: good first half for Bvlgari and successful development of TAG Heuer in its core range
The Watches & Jewelry business group recorded organic revenue growth of 13%. On a reported basis, revenue growth was 14% and profit from recurring operations was up 14%. Bvlgari enjoyed an excellent first half and continued to gain market share. This dynamic is notable in both jewelry and watchmaking, especially in China and Europe, thanks to the success of the iconic Serpenti and B-Zero 1 lines and the new Octo Finissimo watch. TAG Heuer experienced solid revenue growth in a tough watch market. The new products created in its flagship Carrera, Aquaracer and Formula 1 collections were very successful and a new generation of the smart watch was launched. Hublot continued its growth.
Bulgari was called out as a main driver for profit (see page 8 of the PDF report), but TAG Heuer was also repeatedly mentioned for its product successes (see page 13-14 of that report):
The solid revenue growth reported by TAG Heuer in a challenging watch market underscored the relevance of the brand’s strategy, focusing on further developments within its core product range. The new additions to the flagship Carrera, Aquaracer and Formula 1 collections and the modern version of the iconic Autavia, launched at Baselworld, were very well received. In March, TAG Heuer released a new version of its smartwatch, whose design offers numerous customization options. Continuing its focus on improving its retail network, TAG Heuer opened a store in Melbourne. Its roster of ambassadors and its many sports and cultural partnerships are helping to increase its visibility with target customers.
Watches & Jewelry: good first half for Bvlgari and successful development of TAG Heuer in its core range
The Watches & Jewelry business group recorded organic revenue growth of 13%. On a reported basis, revenue growth was 14% and profit from recurring operations was up 14%. Bvlgari enjoyed an excellent first half and continued to gain market share. This dynamic is notable in both jewelry and watchmaking, especially in China and Europe, thanks to the success of the iconic Serpenti and B-Zero 1 lines and the new Octo Finissimo watch. TAG Heuer experienced solid revenue growth in a tough watch market. The new products created in its flagship Carrera, Aquaracer and Formula 1 collections were very successful and a new generation of the smart watch was launched. Hublot continued its growth.
Bulgari was called out as a main driver for profit (see page 8 of the PDF report), but TAG Heuer was also repeatedly mentioned for its product successes (see page 13-14 of that report):
The solid revenue growth reported by TAG Heuer in a challenging watch market underscored the relevance of the brand’s strategy, focusing on further developments within its core product range. The new additions to the flagship Carrera, Aquaracer and Formula 1 collections and the modern version of the iconic Autavia, launched at Baselworld, were very well received. In March, TAG Heuer released a new version of its smartwatch, whose design offers numerous customization options. Continuing its focus on improving its retail network, TAG Heuer opened a store in Melbourne. Its roster of ambassadors and its many sports and cultural partnerships are helping to increase its visibility with target customers.
