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4-Traders Homepage  >  Equities  >  Euronext Paris  >  LVMH Moët Hennessy Vuitton SE    MC   FR0000121014

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LVMH hopes for double-digit second-half watch sales growth

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08/10/2017 | 06:19pm CET

Sales of LVMH's (>> LVMH Moët Hennessy Vuitton SE) watch brands could maintain their double-digit percentage growth in the second half of 2017, despite tougher year-on-year comparisons, the head of the luxury company's watch business said on Thursday.

Sales of LVMH's (>> LVMH Moët Hennessy Vuitton SE) watch brands could maintain their double-digit percentage growth in the second half of 2017, despite tougher year-on-year comparisons, the head of the luxury company's watch business said on Thursday.

Watch and jewellery sales at the world's biggest luxury company rose 13 percent in the first half, outperforming the watch businesses of Swiss rivals Swatch Group (>> The Swatch Group) and Richemont (>> Compagnie Financière Richemont).

"We hope to be able to maintain this pace of growth even if the comparables are less favourable in the second half," Jean-Claude Biver, who is in charge of LVMH's TAG Heuer, Hublot and Zenith brands, said in a statement emailed to Reuters.

Swatch Group gave a similarly positive outlook for the second half last month.

Biver said TAG Heuer's second-generation "connected" watch launched in March had become the brand's best-selling model by the end of July. The watch lets wearers switch between a smartwatch head and a traditional mechanical watch movement.

He also said TAG Heuer was working on a smartwatch that could connect to high-speed mobile networks without needing a linked smartphone within range, confirming a report in Swiss newspaper Handelszeitung.

Biver's comments came just days after media reports that Apple Inc (>> Apple) planned to release a version of its smartwatch later this year with an LTE (Long Term Evolution) modem to connect to high-speed networks.

"We still need to solve some technical problems and find agreements with the different operators in the countries where we'd like to sell this LTE watch," Biver said, without giving further details.

(Reporting by Silke Koltrowitz; editing by David Clarke)

By Silke Koltrowitz

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Financials (€)
Sales 2017 42 209 M
EBIT 2017 8 199 M
Net income 2017 4 922 M
Debt 2017 8 341 M
Yield 2017 1,87%
P/E ratio 2017 25,45
P/E ratio 2018 23,08
EV / Sales 2017 3,17x
EV / Sales 2018 2,92x
Capitalization 125 B
Chart LVMH MOËT HENNESSY VUITTON
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LVMH Moët Hennessy Vuitton Technical Analysis Chart | MC | FR0000121014 | 4-Traders
Technical analysis trends LVMH MOËT HENNESSY VUITTON
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 254 €
Spread / Average Target 3,0%
EPS Revisions
Managers
NameTitle
Bernard Arnault Chairman & Chief Executive Officer
Antonio Belloni Group Managing Director & Director
Jean-Jacques Guiony Chief Financial Officer
Delphine Arnault-Gancia Director
Albert P. Frère Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
LVMH MOËT HENNESSY VUITTON SE36.19%148 198
CHRISTIAN DIOR SE51.27%64 372
HENNES & MAURITZ-23.20%33 601
VF CORP36.06%28 984
THE SWATCH GROUP15.88%20 307
PVH CORP50.83%10 473