LVMH 2010 Jewelry and Watch Profit Sales Boost 29 percent
Exceeded the EUR 20 billion...Luxury group LVMH Moët Hennessy–Louis Vuitton marked a 19 percent increase in revenue during its fiscal year 2010 and exceeded the EUR 20 billion for the first time.
Revenue from the watch and jewelry segment grew 29 percent to $1.34 billion (EUR 985 million) for the year, which represented the strongest growth percentage of all categories, but the segment remained fifth in terms of sales behind fashion and leather goods, selective retailing, wines and spirits, and perfumes.
LVMH Moët Hennessy–Louis Vuitton’s financial statement for 2010:
- Total revenue from watches and jewelry: $1.3 billion, up 29%
- Total profit from watches and jewelry: $173.5 million, up 103%
- Total company revenue: $27.5 billion, up 19%
- Total company profits: $5.95 billion, up 29%
The company noted that jewelry brands Chaumet, De Beers, and Fred registered solid revenue growth in their European and Asian networks.
By: JewelryOurs
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