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.
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IMPORTANCE 90
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