LVMH 2009 Revenue fell by 1 percent while Profits dropped by 13 percent
LVMH reported that revenue for fiscal 2009 fell 1 percent to $24 billion while the group's share of net profit fell 12.5 percent to $2.4 billion. The sales of watches and jewelry fell 13 percent to $1.06 billion. The jewelry division was hardest hit during the year. The jewelry and watch division fared worse of all with a 47 percent drop in operating profits at $87.2 million.
Swiss watch exports reached $ 12.4 billion in 2009 with a drop of 22.3 percent.
The 2009 as a whole recorded 13.2 billion Swiss francs or $12.4 billion, a decline of 3.8 billion Swiss francs (nearly $3.6 billion) from the 2008 year with the sector having been hit especially by a general fall in demand as a direct result to the worldwide economic crisis, as reported last week by the Federation of the Swiss Watch Industry. In terms of price value, watches priced between 200 and 500 Swiss ...
Boucheron is launching its first iPhone application.
Boucheron has launched an interactive application designed to offer iPhone users an opportunity to “try on” virtually. Choose a product from the selection offered, take a snapshot of your wrist or hand with your phone, and slip the product’s image on! You can then share your pictures by sending them to someone who counts in your life - and hope the watch or ring of your dreams will be coming your way.The ...
The 7th edition of the Doha Jewellery and Watches Exhibition opened with glamour
The 7th edition of the Doha Jewellery and watches Exhibition opened with glamour and style in the Capital of the State of Qatar. This regional and important exhibition will run till the 22nd of February at the Qatar International Exhibition Centre in Doha. The Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani accompanied by Ahmed Al Nuaimi Chairmen of Qatar Tourism Authority the ...
Watch Trends: Special releases from 14 of the biggest premium watch brands in 2009
2009 has been a very volatile and tumultuous year for the global fine watches industry. The industry has witnessed much turbulence wrought by the continuing economic recession. Nevertheless, resilience is the name of the game and the trade continues to impress with ingenious and innovative new watch models. Our New Jersey, USA-based special correspondent Roberta Naas, an acclaimed industry expert and a keen ...