Compared to the first half of 2016, sales performances improved in the second half. The trend was relatively stable in Europe but double digit growths were recorded in other countries, including China (+20%), Middle East and South Korea. Business in North America was slightly below the previous year, while sales in Middle America performed positively.
In 2016, the LVMH Moët Hennessy Louis Vuitton group recorded an organic revenue growth of 5% with its Watches & Jewelry business division, in particular with the Bvlgari, TAG Heuer and Hublot brands.
LVMH announced that it sees the opportunity to continue its growth momentum also in 2017 by building on innovation and quest for quality.
The Richemont group also reported a 5% sales increase in its third quarter (October-December) of fiscal year 2016 ending on March 31, 2017.
Sales increased by 3% in Europe, 8% in the Americas and 10% in the Asia Pacific region.