Even with other high-end fashion houses like Bulgari SpA reporting decreased first quarter profits, LVMH Moet Hennessy CEO Bernard Arnault is still bullish on the luxury market.In Paris yesterday, Arnault told LVMH shareholders that worldwide sales for the company were strong and emerging markets in particular are still showing “exceptional” results.
In particular, the company’s watch business continues to be a strong and profitable market segment. Along with the recent acquisition of Hublot, Arnault made it clear that he has his eye on some other Swiss watch brands. Still, he made it clear that any further moves would be via organic growth and not the result of a buying spree.
Read the DNR article here.
No comments:
Post a Comment