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LVMH First Half Profit Hit by Exchange Rates

In What's New, Industry News by Jeff Prine

Paris—LVMH—the world’s largest luxurygoods conglomerate—felt the sting of a “pressured” Asian market that pushed its profit and margins lower in the first half. Profit from recurring operations fell 5% to 2.58 billion euros (about $3.5 billion). Analysts had expected 2.76 billion euros. According to CFO Jean-Jacques Guiony, so-called organic sales …

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BaselWorld: The Big are Getting Even Bigger

In What's New, Industry News by Jeff Prine

Basel, Switzerland—Although BaselWorld 2012 drew only 1% more buyers this year—some 104,300 from more than 100 countries, show officials said—the mood was all about getting bigger. The 40th world watch and jewelry show, which ended Thursday, was about bigger sales in Asia, particularly Greater China, and Russia; plans for bigger …

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LVMH’s Q3 18% Sales Increase Adds Optimistic Outlook for Luxurygoods Sales

In What's New, Industry News by Accessories Staff

Paris—If there’s a company that’s rightfully bullish on luxurygoods sales, it’s LVMH, which today reported 18% increase in its third quarter earrings to 6.01 billion euros (about $8.23 billion) Excluding currency swings and acquisitions, the sales increase beat analysts’ estimates for 5.85 billion euros for the quarter. Noting a continuation …

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TAG Heuer Launches Chic Smartphone

In What's New, Industry News by Accessories Staff

Las Vegas–Has your iPhone become too pedestrian? Then check out TAG Heuer LINK, the luxury Swiss watch company’s new touch-screen smartphone, engineered like their watches in high-tech style. After all, why leave the smart phone tech race to Silicon Valley? Operating on Google’s Android operating system and featuring quick-load web pages …

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TAG Heuer Opens First U.S. Flagship

In Retail News, What's New, Industry News by Jeff Prine

Las Vegas—TAG Heuer recently opened its first North American flagship store here, a location that not only will house the watch brand’s entire timepiece collection but also accessories including leathergoods, sunglasses, belts and mobile phones. The 800-square-foot store is situated in the Crystals, a high-end shopping destination at CityCenter, will …