Revenue exceeded $1B.

The watches add jewelry business group of luxury giant LVMH Moët Hennessy Louis Vuitton reported organic revenue growth of 20 percent in the first quarter of 2018.

Revenue for the business group was 959 million euros, or about US $1.18 billion. That's compared with 879 million euros, or US $1.09 billion, in the same period a year ago.

LVMH stated: 

Bvlgari enjoyed an excellent performance and continues to gain market share thanks to the strength of its iconic lines Serpenti, B.Zero1, Diva and Octo. Chaumet unveiled its new high-end jewelry collection. The innovative products presented by LVMH's watch brands at the Baselworld Watch and Jewelry Fair were very well received, including Hublot's Big Bang Sapphire Tourbillon, Bvlgari's Octo Finissimo Automatic Tourbillon and new models in the iconic Monaco and Carrera lines at TAG Heuer and Defy at Zenith.

Overall, LVMH reported revenue of 10.85 billion euros, or about US $13.38 billion, for the first quarter 2018. Organic growth was 13 percent compared to the same period of 2017. Organic growth refers to "comparable structure and exchange rates," according to the company.

"In the buoyant environment of the beginning of this year, albeit marked by unfavorable exchange rates and geopolitical uncertainties, LVMH will continue to focus its efforts on developing its brands, maintaining strict control over costs and targeting its investments on the quality, excellence and innovation of its products and their distribution," the company stated.

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