From lighter color palettes to the integration of AR, experts offer inspiration for jewelers in need of an aesthetic refresh.
Bulgari, TAG Heuer Fuel Sales Growth at LVMH
The strong performance of Bulgari watches and jewelry plus TAG Heuer’s smartwatch helped drive a decent first half for LVMH.
Paris--The strong performance of Bulgari watches and jewelry plus TAG Heuer’s smartwatch helped drive a decent first half for LVMH.
Overall, the Paris-based luxury group saw sales rise but profits were flat, and regions outside the United States struggled.
LVMH Moët Hennessy Louis Vuitton reported Wednesday that revenue for its Watches & Jewelry group increased from $1.71 billion in the first half of 2015 to $1.78 billion this year. It was an increase of 4 percent on both a reported and organic basis.
First half group profit was flat at $276.3 million.
LVMH mentioned both Bulgari and TAG Heuer when commenting on its results, stating that there was a “successful refocusing” of TAG Heuer’s core product range and an “excellent response” to new watches in some of its most popular lines, Carrera, Aquaracer and Formula 1.
The brand’s smartwatch, the “Connected,” which came out in November 2015, also continues to do well. LVMH said TAG has doubled its production capacity for the timepiece.
The performance of Bulgari was “well above the market,” driven by the success of the B Zero I and Diva lines and the reopening of the brand’s store on Bond Street in London.
LVMH said it is opening a new Bulgari jewelry workshop in Valenza, Italy.
The performance of Watches & Jewelry was in line with that of other segments of LVMH’s business, none of which had first half revenue growth that exceeded single digits.
The strongest-performing group, Wines & Spirits, recorded organic revenue growth of 9 percent while Perfumes & Cosmetics reported an 8 percent year-over-year increase in sales.
Revenue was up 5 percent for Selective Retailing, which includes experience-focused cosmetics chain Sephora, and was flat for Fashion & Leather Goods.
Region-wise, the United States was the second-largest market for the Paris-based luxury goods group, comprising 26 percent of total revenue in the first half of the year. Only Asia (excluding Japan) was bigger, at 28 percent.
The U.S. also was the strongest performing market for LVMH in the period, with year-over-year organic revenue growth of 7 percent. Sales were flat in Japan and Asia and up 5 percent in Europe.
Total revenue for LVMH was up 3 percent, from $18.47 billion to $19 billion.
Profit from recurring operations was flat.
The company said it has “confidence for (the remainder of) 2016, despite an uncertain economy (and) monetary and geopolitical context.”
The Latest
Sotheby’s will auction jewelry belonging to the “Diamonds Are Forever” singer in Paris this October.
Sherry Smith shares tips for fostering successful vendor-retailer partnerships, from marketing investment to fast-seller replenishment.
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
Herold has been with the organization for 22 years and will continue in her current role of conference director.
“Fancy Studs” will feature revamped branding and a new lab-grown diamond fine jewelry collection.
Nivoda and Liquid Diamonds both have big plans for the new capital.
Despite the rising prices, consumers continue to seek out the precious metal.
The 2024-2025 edition features new colors and styles, as well as storytelling elements.
From moringa to ecotourism in the Okavango Delta, the country and its leaders are exploring how Botswana can diversify its economy.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.