Louis Vuitton 2002 Annual Report Download - page 9

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ANNUAL REPORT 2002 • 07
LOUIS VUITTON UNVEILS ITS TAM BOUR
WATCH COLLECTION, SUCCESSFULLY
INVESTING IN A PROMISING SEGM ENT.
The tambour timepiece, created in 1540, was the
first to be designed in the western world. Nearly
500 years later, Louis Vuitton
selected the name Tambour
for its first watch collection.
A complete line of preci-
sion-crafted watches,
reflecting the attention to
detail that marks all Vuitton
designs, and a creative
energy that evokes all brand
codes, Ta mbour firmly estab-
lished Louis Vuitton’s pres-
ence in a new segment in
which the brand will make
a permanent mark.
All the models are
designed and manufac-
tured in Switzerland by
the watchmaking shops
of LVMH’s Watches and
Jewelry business group.
An example of productive
cooperation within the Group,
Tambour was sold in about sixty
Louis Vuitton stores in 2002, winning
over customers in all markets. Based on this suc-
cess, the collection will be offered in an additional
sixty stores in 2003 and will be rapidly expanded
with new models.
PERFUM ES AND COSM ETICS—
A PRIORITY ON INNOVATION
Innovation continues to drive the performances of
the Perfumes and Cosmetics companies. After
Eau Torride from Givenchy in April 2002, Dior
Addict and Givenchy pour Homme launched a
promising future in the second half of the year.
The year 2003 will be highlighted by a new mar-
keting offensive in skin care and makeup and the
introduction of new perfumes from Guerlain,
Givenchy and Kenzo.
DE BEERS LV – AN INNOVATIVE CONCEPT
IN THE WORLD OF DIAM ONDS
On November 21, 2002, De Beers LV opened its
first boutique in London, unveiling its first col-
lection of seven diamond jewelry lines in a broad
range of price points, from affordable products
to exceptional pieces. The 450 square meter
store at the corner of Piccadilly and Old Bond
Street is the largest diamond store in the world.
Its modern and well-lit format, reflecting the
designs it offers, is the incarnation of an extraor-
dinary approach in diamond jewelry—reconcile
a desire for fashion with the purchase of a prod-
uct symbolizing eternity.
DISPOSALS OF NON-STRATEGIC ASSETS
As part of its efforts to focus on its flagship
brands and its core business, the Group sold
certain non-strategic assets over the past few
months.
• The Pommery champagne brand was sold
in May 2002.
•In late 2002, the Perfumes and Cosmetics
business group sold two young American
companies, Hard Candy and Urban Decay, in
order to focus its resources on its most prof-
itable activities with the greatest potential for
growth.
•In January 2003, LVMH sold its final 27.5%
stake in the Phillips, de Pury & Luxembourg
auction house to its majority shareholders.
•The Group also sold its minority stake in the
American company of designer Michael Kors
in January 2003.
The limited
series 2003
LV Cup
Chronograph,
with its white gold
case and bezel ring,
its gray face and
yellow alligator
band, is one
of the Tambour
collection’s most
prestigious models.