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

LVMH MOËT HENNESSY VUITTON SE (MC)
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LVMH hopes for double-digit second-half watch sales growth

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08/10/2017 | 06:19pm CEST

ZURICH (Reuters) - 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.

ZURICH (Reuters) - 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

Stocks mentioned in the article
ChangeLast1st jan.
APPLE -0.29% 184.92 Delayed Quote.9.27%
COMPAGNIE FINANCIÈRE RICHEMONT 1.25% 87.24 Delayed Quote.-0.57%
THE SWATCH GROUP 2.57% 475.5 Delayed Quote.19.65%
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Financials (€)
Sales 2018 46 051 M
EBIT 2018 9 294 M
Net income 2018 5 796 M
Debt 2018 5 036 M
Yield 2018 1,98%
P/E ratio 2018 24,80
P/E ratio 2019 22,67
EV / Sales 2018 3,24x
EV / Sales 2019 2,98x
Capitalization 144 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
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 296 €
Spread / Average Target 3,6%
EPS Revisions
Managers
NameTitle
Bernard Arnault Chairman & Chief Executive Officer
Antonio Federico Belloni Group Managing Director & Director
Jean-Jacques Guiony Chief Financial Officer
Delphine Arnault-Gancia Director
Antoine Arnault Director
Sector and Competitors
1st jan.Capitalization (M$)
LVMH MOËT HENNESSY VUITTON SE16.77%168 104
VF CORPORATION12.77%32 815
THE SWATCH GROUP19.60%25 445
HENNES & MAURITZ-18.25%22 768
LULULEMON ATHLETICA INC.63.21%17 405
PVH CORPORATION14.68%12 129