Thursday, 21st April 2005 (4204 views)

Luxury retailer LVMH has released its first quarter sales results, reporting an eight per cent increase in watch and jewellery sales.

In addition the firm experienced organic sales growth of 11 per cent in the first quarter, with consolidated sales up to $4 billion.

The watch and jewellery business performed strongly in 2004 and success appears to be continuing, with first quarter sales experiencing organic growth of 21 per cent.

Jewellery and watch brands did particularly well in Asia, the US and France.

Almost all the company's business groups reported double-digit organic sales growth and this is the first time the firm has released quarterly sales in comparison to the first quarter of the year before.

TAG Heuer and Zenith experienced double digit growth and new collections unveiled at the Basel Watch Fair all reported strong orders.

 

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