The Paris based luxury giant LVMH (Moët Hennessy Louis Vuitton) reported a fall of 13% in their watch and jewelry sales in 2009. Watches and jewelry sales were down to 764 million euros (Approximately $ 1.04 billion) from 879 million euros (approximately $1.2 billion) in 2008. However the company noted that there was some improvement in the fourth-quarter and even record revenues in December.
Overall there was a 1% drop in the total revenue to 17.053 billion euros (down from 17.193 billion euros in 2008).
Its has two watch divisions TAG Heuer and Hublot. According to the press release, Hublot opened its new factory. The company press release also noted that TAG Heuer was sustained by successful collections such as Carrera and Monaco.
Its retail jewellery stores also did fairly well according to its press release due to the success of its collections such as Chaumet’s Attrape-Moi and Liens, Fred’s Force 10, and De Beers’ solitaire diamonds.
The companies fashion and leather goods were up 5% due to the strong growth in Asia. Louis Vuitton also had double digit rise in revenue as good resilience displayed by Christian Dior, in its perfume division, and Hennessy, in its wine and spirits division.