Despite the fact that the division of watches and jewelry is the smallest in the LVMH share of total sales, it has recorded double-digit growth, along with other units. Sales of jewelry and watches in the first quarter were $ 931.7 million compared with $ 820.4 million a year earlier. Comparable sales of watches and jewelry rose by 11%.
LVMH said that Bulgari market position strengthened during the quarter, as the brand introduced new models in its jewelry product lines. The company also reported a positive response to its watch brands at the recent fair Baselworld.
The total sales were represented brands Bulgari, Chaumet, Tag Heuer, Zenith, Fred , and Hublot. LVMH sold its 50 percent stake in De Beers Diamond Jewellers his partner De Beers at the end of the quarter.
The company announced that its improved performance was partly due to the relatively low sales in the first quarter of last year, when the terrorist attacks in Paris influenced the consumer activity.
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The overall growth of China's economy in 2015 was reflected in the retail sales of gold and jewelry in this country. In 2015, China's gross domestic product grew by 6.9%.
According to the National Bureau of Statistics of China, the volume of retail sales of gold, silver and jewelry in December 2015 increased by 11.1% to $ 4.6 billion (30.8 billion yuan). In 2015, sales in the jewelery segment totaled $ 46.6 billion (306.9 billion yuan), an increase of 7.3% compared to the same period in 2014.
In 2014, sales of gold, silver and jewelry in China was $ 45.21 billion, compared to about $ 45 billion in 2013.
It is expected that the gold and jewelery sector in China in the coming years will show significant growth due to the increasing number of middle-class consumers, and also because of the traditional propensity of consumers in this country to invest in gold.
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