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LVMH Promotes Linder to CEO of TAG Heuer
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LVMH appointed Stéphane Linder as the CEO of the TAG Heuer brand, effective June 1. Linder, who has been the vice president of sales in North America for TAG Heuer since 2010, will take over...
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Watches
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May 06, 2013
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Jeff Miller
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LVMH's Watches & Jewelry Sales -1%
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LVMH Moët Hennessy Louis Vuitton reported that sales rose 6 percent year on year to $9 billion (EUR 6.95 billion) in the first quarter that ended on March 31. Same-store sales rose 7 percent. The luxury group...
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Retail
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Apr 16, 2013
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Jeff Miller
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Japanese Yen and Diamond Dollars
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Japan’s new government, elected this past December, seems intent on depreciating its currency as a means to stimulate the economy. A weak yen has mixed implications for the diamond and jewelry trade. As a net importer of polished...
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Polished Markets
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Apr 12, 2013
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Avi Krawitz
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High-End Caution
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There is somewhat of a dichotomy present in the high-end diamond sector. While the European luxury jewelry and watch companies continue to post strong growth, suppliers of diamonds used by this sector have noted a sharp slowdown...
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Polished Markets
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Aug 03, 2012
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Avi Krawitz
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LVMH's 1H Revenue +26%, Profit +28% to $2B
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LVMH reported revenue growth of 26 percent year on year to $16 billion (EUR 12.97 billion) for the first half of 2012. Group profit rose 28 percent to $2 billion (EUR 1.68 billion). The luxury group, which acquired...
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Retail
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Jul 26, 2012
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Jeff Miller
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LVMH Welcomes EC Job Creation Plan
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An advisory board created by the European Commission (EC) from the fashion and luxury goods industries laid out its recommendations to officials in an effort to increase global competitiveness. Specific policy recommendations for E.U. action involve...
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Retail
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Jun 19, 2012
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Jeff Miller
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ASSOCHAM Says Indian Watch Market to Grow at 15%
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India’s watch market is expected to grow at 15 percent every year to around $2.70 billion (INR 150 billion) by 2020 driven by young consumers, the emergence of a strong middle class and a larger number of high-net-worth individuals, according to the...
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Retail
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Jun 13, 2012
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Dilipp S Nag
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LVMH Reports 1Q Sales Jump 25% to Almost $9B
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LVMH reported that first-quarter sales rose 25 percent year on year to $8.636 billion (EUR 6.582 billion). On a constant-exchange-rate basis, which LVMH defines as organic, comparable-store sales improved 14 percent. Revenue from the group's watches and...
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Retail
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Apr 18, 2012
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Jeff Miller
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LVMH Sales +16% to $31B
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Revenue rose 16 percent year on year to $31.2 billion (EUR 23.7 billion) for luxury group LVMH during 2011 and profit jumped 22 percent to $7 billion (EUR 5.3 billion). Specifically for the watches and jewelry...
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Financial-Legal
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Feb 02, 2012
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Jeff Miller
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LVMH Appoints Burke to Head Bulgari
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Luxury group LVMH has appointed Michael Burke as the chief executive for Bulgari. Burke will start in the position in February 2012 bringing extensive experience in the luxury sector. He Joined Christian Dior in 1986 to head...
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Retail
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Dec 14, 2011
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Deena Taylor
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LVMH Acquires ArteCad
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LVMH Moët Hennessy Louis Vuitton acquired all shares of ArteCad SA, a manufacturer of Swiss watch dials. The transaction will enable LVMH to further reinforce its industrial integration in watch-making and its independence in the strategic area of watch dials. LVMH already produces mechanical movements as well as cases,...
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Watches
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Nov 11, 2011
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Jeff Miller
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LVMH 3Q Sales +18%
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LVMH reported that company sales for all categories rose 18 percent year on year to $8.3 billion (EUR 6 billion) for the third fiscal quarter. The luxury group reported that sales for its watches...
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Retail
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Oct 18, 2011
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Jeff Miller
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Watch, Jewelry Sales +30% for LVMH in 1H11
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LVMH reported its first fiscal half results and sales for the watches and jewelry segment improved 30 percent year on year to $835 million (EUR 576 million), showing the strongest performance of any business...
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Retail
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Jul 26, 2011
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Jeff Miller
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De Beers Opens First Store in China
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De Beers Diamond Jewellers (DBDJ) opened its first store on Mainland China as it looks to capitalize on growing consumer demand for diamonds in the country. “The Beijing store represents De Beers entry into the fast-growing market, recognizing...
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Retail
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Jun 01, 2011
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Avi Krawitz
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De Beers Diamond Jewellers Appoints U.S. CEO
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De Beers Diamond Jewellers (DBDJ) has appointed Devon Pike as chief executive officer (CEO) of its U.S. business. She joins the company after serving as senior vice president at Juicy Couture and prior to that as an executive...
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Retail
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May 16, 2011
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Avi Krawitz
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Bulgari Posts 1Q Profit
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Bulgari Group posted a net profit of $13.4 million (EUR 9.3 million) in the first quarter of 2011, following the loss of $11.9 million (EUR 8.3 million) reported one year ago. “The very positive performance...
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Retail
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May 11, 2011
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Avi Krawitz
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Bulgari Jewelry Revenues Rise 29% in 1Q
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Bulgari Group reported that jewelry revenues rose 29 percent year on year to $166.6 million (EUR 114 million) in the first quarter of 2011. All of the company’s business segments recorded an increase in sales as group revenues grew...
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Retail
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Apr 21, 2011
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Avi Krawitz
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LVMH 1Q11 Watch & Jewelry Sales +20%
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Sales of watches and jewelry at LVMH Moët Hennessy Louis Vuitton rose 20 percent year on year during the first fiscal quarter at a constant exchange rate to $371 million (EUR 261 million). Total company revenue rose...
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Retail
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Apr 18, 2011
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Jeff Miller
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LVMH to Acquire Bulgari
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LVMH Moet Hennessy Louis Vuitton SA has agreed to acquire luxury Italian jeweler Bulgari SpA in a deal valued at about $5.2 billion (EUR 3.7 billion). “This is a significant step for our family as well as for Bulgari,...
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Retail
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Mar 07, 2011
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Avi Krawitz
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LVMH Watch & Jewelry Revenue +30% to $343M
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LVMH Moët Hennessey Louis Vuitton reported that revenues from its watch and jewelry division rose 30 percent to $343.2 million (EUR 244 million) in the third quarter that closed on September 30, 2010. LVMH...
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Retail
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Oct 14, 2010
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Deena Taylor
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