Page 8 - Letter to shareholders – March 2019 - LVMH

WATCHES & JEWELRY

EXCELLENT YEAR FOR BVLGARI

AND GOOD PROGRESS

OF WATCH BRANDS

Bvlgari

The Watches & Jewelry business group recorded organic revenue REVENUE
growth of 12%. Profit from recurring operations was up 37%. €4,123m
Bvlgari performed very well and gained market share. Its iconic jewelry and +12% (1)
watchmaking lines Serpenti, Diva’s Dream, B.Zero1, Lvcea and Octo grew
strongly. Among the new product launches of the year, the Octo Finissimo PROFIT FROM
watch and the Fiorever jewelry collection, designed around a central RECURRING
diamond, were exceptionally well received. Chaumet’s growth was driven OPERATIONS
by the success of the Liens and Joséphine collections, particularly in Asia.
The exhibition on its history at the Mitsubishi Ichigokan Museum in Tokyo €703m
was an immense success. In the watchmaking sector, TAG Heuer continued +37%
to develop its iconic lines and introduced a new variant of the smart watch.
Hublot, which continued its progress, enjoyed strong growth in 2018 and CURRENT
considerable visibility as the FIFA World Cup Official Timekeeper.
OPERATING MARGIN
17.1%

(1) With comparable structure and exchange rates.

8 – LVMH – LETTER TO SHAREHOLDERS – MARCH 2019