The LVMH group reported revenue growth of 2.4% year-on-year to $ 11.3 billion (EUR 8.4 billion) for the fourth quarter of 2013.
In 2013, sales of LVMH showed an increase of 4% compared to 2012 and reached $ 39.4 billion (EUR 29.15 billion). The annual profit from current operations grew by 2% to $ 8.1 billion (EUR 6 billion), while the net profit of the group remained at last year's level of $ 4.6 billion (EUR 3.4 billion), Rapaport reports.
The LVMH division, specializing in sales of watches and jewelry, reported a 1.8% drop in sales to $ 3.8 billion (EUR 2.78 billion) in 2013. In each quarter, sales showed a slight decline. In particular, in the fourth quarter (covering the Christmas season) jewelry and watches sales decreased by 0.7% on a year-on-year basis, to $ 1.1 billion (EUR 797 million), and in the third quarter, sales fell by 1, 9% to $ 914 million (EUR 677 million).
LVMH Chairman Bernard Arnault said that the retailer showed excellent results, "despite the volatility of the exchange rate and the slowdown in European markets."
Trends observed in jewelry boutiques throughout the year, indicated a stable margin in boutiques that are completely owned by the group. LVMH watch brands continued to invest in innovation and development of production capacity, such as the watch factory TAG Heuer. The retailer also reported on the success of the Serpenti line from Bulgari brand and good sales figures of the collection of first-class Diva jewelry.