Bernard Arnault's Son Sets Sights On $30B Watch Market With High-End, Reinvented Pieces After LVMH Restructuring
Portfolio Pulse from Benzinga Neuro
LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMHF) has launched a new watch division aiming to capture a larger share of the global luxury watch market, projected to reach $37 billion by 2032. The company's jewelry and watch division recorded $11.8 billion in sales in 2023, with a 7% organic growth. Frederic Arnault has been appointed as the CEO of LVMH Watches, overseeing brands like TAG Heuer, Hublot, and Zenith. This move follows a significant restructuring within LVMH and aims to revitalize the company's focus on luxury watches amidst challenges in the luxury retail industry.
February 05, 2024 | 6:36 am
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LVMH's new watch division and strategic focus on the luxury watch market, led by Frederic Arnault, positions the company for potential growth in a market projected to reach $37 billion by 2032.
The launch of a new watch division and the appointment of Frederic Arnault as CEO of LVMH Watches are strategic moves aimed at capturing a larger share of the growing luxury watch market. Given the company's significant sales in its jewelry and watch division and the market's projected growth, these developments are likely to have a positive short-term impact on LVMH's stock. However, the recent stock decline due to concerns about the Chinese luxury market introduces some uncertainty, hence the confidence score is not at the maximum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100