The LVMH group reported an increase of 1.7% on a year-on-year basis to $ 9.5 billion in the third quarter ended September 30, Rapaport reported. Meanwhile, domestic growth, reflecting the dynamics of sales in comparable stores based on the constant exchange rate, was 8% compared with the same period last year.
The jewelery and watches division registered a decrease in revenues of 1.9% to $ 914 million for the reporting quarter, which shows a decline for the third quarter in a row.
The sales of fashion, leather, perfume and cosmetics divisions also showed a slight drop of several percent in the third quarter.
Without highlighting the results of the third quarter, LVMH explained that the internal growth of jewelry and watches division in the first 9 months of 2013 was 3%. However, total revenue fell 2% year-on-year to $ 2.68 billion. The
results of business expansion in companies belonging to the department of jewelery and watches managed by LVMH "remain excellent." The company's message says about the successful launch of a new jewelery line by the brand Bulgari. In the reporting quarter, the new watch factory TAG Heuer was launched.