Watches and Jewelry Help Drive LVMH Earnings Higher


July 25, 2006

Watches and Jewelry Help Drive LVMH Earnings Higher

LVMH Moet Hennessy Louis Vuitton SA announced a 10% increase in revenue in its second quarter and credited the rise in part to strong sales of Tag Heuer watches and fine jewelry in American and European markets.

The luxury giant said its sales were $4.3 billion, compared to $3.87 billion in Q2 of last year. The company says its sales of watches and jewelry increased 23% in the first six months of 2006, largely due to the addition of new products — Carrera tachymeters and Aquaracer watches — to its Tag Heuer family, according to Bloomberg.com.

LVMH said it expects its profits for the year to show "very significant growth."



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