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LVMH watch, jewelry sales see record growth in 2006

February 15, 2007

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Paris—LVMH Moet Hennessy Louis Vuitton's (LVMH) watch and jewelry sales increased 26 percent (28 percent at constant exchange rates) in 2006 to reach $968 billion.

Watch and jewelry profits from recurring operations more than tripled to $105.1 billion, and operating margins increased 11 percent for the category.

LVMH reported that TAG Heuer continued to increase its market share as it positioned itself as an upscale brand and enjoyed success with its Aquaracer and Carrera lines. Zenith improved its growth in Asia, Europe and the United States, and benefited from the introduction of its sports line, Defy.

Montres Dior continued its growth, driven by the success of the Christal line. Chaumet opened its flagship store in Hong Kong and strengthened its distribution network in Europe, LVMH reported.

In jewelry, the company said De Beers recorded strong revenue growth in Europe, Japan, the United Kingdom and the United States, and opened inaugural stores in Dubai and Taiwan.
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