LVMH Watches & Jewelry Up 13%
By William George Shuster -- JCK-Jewelers Circular Keystone, 5/1/2008
Luxury group LVMH Moët Hennessy Louis Vuitton said sales in its watches and jewelry division rose 13 percent to $1.2 billion in 2007, led by strong growth in the TAG Heuer watch brand. That included strengthening of TAG Heuer's Aquaracer, Link, and Carrera lines and the launch of the Calibre S movement and the new Grand Carrera line.
In other highlights, Zenith successfully rolled out its new sports line, Defy. Montres Dior benefited from the success of its Christal watch, and Chaumet continued to expand its network, notably in Asia.
Overall, LVMH's net profit for the year ended Dec. 31 rose 8 percent to nearly $3 billion. Revenue also grew 8 percent, to $24.1 billion.
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