We are watching LVMH more closely than usual, with news that the luxury group’s watch sector is “confident of returning to profitable growth.”Also, according to Reuters, the head of LVMH’s watch and jewellery unit, Philippe Pascal, is not ruling out future acquisitions.
Pascal said, “With Hublot, we showed that we can undertake purchases if the financial terms are reasonable and the brand has potential for development.”
And the answer you’re watching for:
Q: Is LVMH interested in buying Italian jeweller Bulgari?
A: Pascal said, “No comment. We'll look at interesting offers, but Bulgari is not relevant now."
This article continues LVMH’s “relatively upbeat” attitude towards its watch and fine jewellery divisions. See our article for February 8 (Business Is Improving For LVMH) for more details.
Image is courtesy of: www.louisvuitton.com
