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·LVMH reported its annual earnings for the fiscal year ending in December 2017. Revenue from the Watches and Jewelry division increased a healthy 10% year-over-year. The full PDF report discusses its watch operations and TAG Heuer:
Page 7-8:
Revenue for Watches and Jewelry increased by 12% on a constant consolidation scope and currency basis, and by 10% based on published figures. This business group benefited from the excellent performance of Bvlgari; Chaumet, Hublot and Fred saw strong gains. Asia and Europe were the most buoyant regions.
Profit from recurring operations for Watches and Jewelry was 512 million euros, up 12% with respect to 2016. This increase was the result of strong performance at both Bvlgari and Hublot, with operating margin as a percentage of revenue rising by 0.3 points to 13.5%.
Page 14:
Revenue growth at TAG Heuer substantiates the effectiveness of its core product development strategy, with additions to its leading Carrera, Aquaracer and Formula 1 lines, and the reinterpretation of its iconic Autavia model. A next-generation smartwatch has been launched offering numerous customization options. TAG Heuer has made further improvements in its retail network and recently opened new stores in Melbourne, Las Vegas and London. New brand ambassadors have helped to raise TAG Heuer’s profile among its target customers and boost its social media presence. Apart from its many contracts in the world of competitive sports, TAG Heuer has also joined forces with the avant-garde American graffiti artist Alec Monopoly.
Outlook, page 14:
The Watches and Jewelry business group is actively pursuing its market share growth target. It is therefore paying close attention to market developments and remains highly selective in the allocation of resources. Thanks to the talents of their artisans and their great capacity for innovation, all of the business group’s brands will continue to develop their iconic lines and launch new collections with a constant focus on excellence, product innovation and creativity. To this end, increases in production capacity are planned in order to maintain the business group’s world-class craftsmanship and technological leadership. All of the brands will pursue sustained and targeted investments to strengthen their visibility and raise their pro le in key regions, especially in the digital realm. Improvements in the quality, productivity and profitability of retail networks also remain a strategic priority. Selective new store openings will take place at prestigious, high-footfall locations. Bvlgari will continue to focus as a priority on developing women’s jewelry and watches, with major initiatives in store for the B.Zero1, Serpenti and Lvcea lines. It will also proceed with its renovation projects for several of its stores, including those in Hong Kong, Shanghai, London and Milan. Hublot will step up the targeted expansion of its retail network, with store openings in Geneva and London. TAG Heuer plans to open stores on Fifth Avenue in New York City and on Chuo-dori, the main shopping street in Tokyo’s famed Ginza district. Chaumet will continue rolling out its new store concept.
FY 2016 report was reported here.
Page 7-8:
Revenue for Watches and Jewelry increased by 12% on a constant consolidation scope and currency basis, and by 10% based on published figures. This business group benefited from the excellent performance of Bvlgari; Chaumet, Hublot and Fred saw strong gains. Asia and Europe were the most buoyant regions.
Profit from recurring operations for Watches and Jewelry was 512 million euros, up 12% with respect to 2016. This increase was the result of strong performance at both Bvlgari and Hublot, with operating margin as a percentage of revenue rising by 0.3 points to 13.5%.
Page 14:
Revenue growth at TAG Heuer substantiates the effectiveness of its core product development strategy, with additions to its leading Carrera, Aquaracer and Formula 1 lines, and the reinterpretation of its iconic Autavia model. A next-generation smartwatch has been launched offering numerous customization options. TAG Heuer has made further improvements in its retail network and recently opened new stores in Melbourne, Las Vegas and London. New brand ambassadors have helped to raise TAG Heuer’s profile among its target customers and boost its social media presence. Apart from its many contracts in the world of competitive sports, TAG Heuer has also joined forces with the avant-garde American graffiti artist Alec Monopoly.
Outlook, page 14:
The Watches and Jewelry business group is actively pursuing its market share growth target. It is therefore paying close attention to market developments and remains highly selective in the allocation of resources. Thanks to the talents of their artisans and their great capacity for innovation, all of the business group’s brands will continue to develop their iconic lines and launch new collections with a constant focus on excellence, product innovation and creativity. To this end, increases in production capacity are planned in order to maintain the business group’s world-class craftsmanship and technological leadership. All of the brands will pursue sustained and targeted investments to strengthen their visibility and raise their pro le in key regions, especially in the digital realm. Improvements in the quality, productivity and profitability of retail networks also remain a strategic priority. Selective new store openings will take place at prestigious, high-footfall locations. Bvlgari will continue to focus as a priority on developing women’s jewelry and watches, with major initiatives in store for the B.Zero1, Serpenti and Lvcea lines. It will also proceed with its renovation projects for several of its stores, including those in Hong Kong, Shanghai, London and Milan. Hublot will step up the targeted expansion of its retail network, with store openings in Geneva and London. TAG Heuer plans to open stores on Fifth Avenue in New York City and on Chuo-dori, the main shopping street in Tokyo’s famed Ginza district. Chaumet will continue rolling out its new store concept.
FY 2016 report was reported here.
