The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
LVMH Sees Watch, Jewelry Profits Climb
The luxury goods conglomerate had success with Bulgari and TAG Heuer’s new smartwatch in 2015, though its CEO acknowledged that global economic “uncertainty” remains.
Paris-- Luxury goods conglomerate LVMH had success with Bulgari and TAG Heuer’s new smartwatch in 2015, though its CEO acknowledged that global economic “uncertainty” remains.
The company’s watch and jewelry brands, which also include Zenith, Chaumet, Fred and De Beers Diamond Jewellers, recorded an 8 percent increase in sales in organic terms (meaning with comparable structure and exchange rates.)
On a reported basis, sales were up 19 percent.
Bulgari had an “excellent” year, driven in part by the success of its new Diva (jewelry) and Lucea (watches) collections.
TAG Heuer, which is being repositioned under LVMH watch head Jean-Claude Biver, reportedly had “enormous success” with the smartwatch it introduced in November, the Connected.
A month after the watch came out, TAG announced it was pulling the Connected from the Internet because it couldn’t keep up with demand, focusing instead on selling it through brick-and-mortar stores, including its own.
Hublot, meanwhile, recorded “strong growth” and opened a second manufacturing facility in Nyon, Switzerland.
While the wholesale side of LVMH’s watch business seemingly is strong, jewelers who sell its watches remain “cautious” in their purchasing, the luxury conglomerate said; in other words, they are not buying as many watches as they once did.
Watches & Jewelry generated the highest year-over-year increase in profit of any of LVMH’s business group.
Profit from recurring operations for Watches & Jewelry increased from $310.1 million to $473.3 million, a 53 percent jump that was steeper than the increases recorded by the company’s handbag, perfume, and wines and spirits brands.
Total sales for LVMH were up 6 percent on an organic basis and 16 percent in reported terms, increasing from $33.58 billion in 2014 to $39.1 billion in 2015. The United States was among the countries where sales were strong.
Profit from recurring operations rose 16 percent-year-over-year.
Despite the company’s relatively strong 2015 performance, Chairman and CEO Bernard Arnault said in a news release that both the economic and geopolitical climates remain “uncertain.”
He also told reporters during a news conference Tuesday at company headquarters in Paris that it is “probably certain” there will be another global economic crisis, Women’s Wear Daily reported.
The Latest
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.