07 Dec 2019
DiamondWorld Directory
Home |
Net profits at LVMH drop by 23%
Jewellery and watch sales drop by 17%
By: Diamond World News Service
Jul 28 2009 10:43AM
Reference: 4044  


During the first six months of 2009, net profits at LVMH Moët Hennessy Louis Vuitton dropped by 23 percent to $975.5 million, and revenues rose negligible by 0.2 percent to $11.1 billion (EUR 7.8 billion). Its jewellery and watch segment saw sales dropping by 17 percent to $491.3 million (EUR 346 million), while jewellery profits were down by 73 percent to $28.4 million (EUR 20 million).

The lowered performance of the watches and jewellery segment were attributed to the economic slowdown and destocking at retailers. Although in the United States and Asia, the watch brand TAG Heuer increased in market share. Despite the low performance in the said six months, the company believed its luxury brands performed appreciably in the said tenure.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 22481
GJEPC Chairman Interview
Views: 20536
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 27727
Promo for IJ Awards 2012 at NDTV Profit
Views: 40649
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 44394
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 17459
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 42528
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 40278
Finestar Diamonds
Member of:
Supporter of: