The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
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
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.