LVMH Watches & Jewellery

In 2001 this business group focused on optimising its prestigious brand portfolio, defining the strategy for each brand and structuring its worldwide distribution network. The strategic decision to terminate production and sales on behalf of third parties as well as the decline in US demand, weighed on operating income.

LVMH's own brands progressed well outside the US and gained market share in many markets. Watch making capacity is being developed in Switzerland for LVMH's own brands including the launch of the Louis Vuitton watch collection planned for the end of 2002.

TAG Heuer's success continues as it opened a new flagship space in London and upgraded its range, especially with mechanical watches. The international rollout of Christian Dior, Ebel, Zenith and Chaumet is progressing well.

Source: LVMH press information
March 2002