Revenue and profit both up in H1 for LVMH watches and jewellery

LVMH has released its financial figures for the first half of the year (H1), reporting revenue of €5.23 billion for its watches and jewelry division, up +9% organically year-on-year.

This division surged to +11% organic growth in Q2, making it one of the group’s best-performing segments.

Operating profit rose +9% to €831 million in H1, with operating margins expanding to 16%.

In its report, LVMH said that growth was driven by solid demand in the US, Asia, and Japan, rebounding after a quieter start to the year (Q1 was down -1.57% year-on-year).

The group noted on the earnings call that the division’s growth was heavily powered by the core luxury jewelry Maisons, while standalone watch sales remained slightly negative overall.

Bulgari reported strong growth, hitting record-breaking revenue following the launch of Eclettica and a major new global campaign for Serpenti.

TAG Heuer and Hublot were both namechecked for their strong visibility and marketing activations.