Louis Vuitton 2008 Annual Report Download - page 44

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LVMH010_2008_GB:Mise en page 1 24/03/09 11:13 Page 45
Jewelry
Watches
Th e n ew est o f t h e LVM H b u sin ess
gro u p s, jo in ed by Hu b lo t
in 20 08 , h o ld s a p o rt fo lio o f lead in g
bran d s w it h very co m p lem en t ary
p o sitio n in g. TAG Heu er,
t h e st a r b ran d w it h in LVM H
an d Sw iss w at ch m akin g,
st ren gt h en s it s p o sit io n as t h e w o rld
lead er in p rest igio u s w at ch es
an d sp o rt s ch ro n o grap h s. Zen it h
fir m ly est ab lish es it s id en t it y
in t h e rest rict ed circle o f t r u e Sw iss
w at ch m akers. Ch rist ian Dio r
co n fir m s t h e su ccess o f it s
Ch rist al
w at ch co llect io n . Ch au m et ,
t h e p rest ige jew eler o n Place Ven d รด m e
in Paris, co n t in u es it s t arget ed glo b al
exp an sio n . Fr e d en h an ces it s
id en t it y as a co n t em p o ra r y jew elry
d esign er an d De Beers affirm s
its p o sit io n in g as a d iam o n d jew eler.
Philippe Pascal
President
of the Watches and Jewelry
business group
A st ro n g
co m m it m en t
fro m
o u r t eam s
Our momentum is driven by the
strong commitment of our
executive teams in the compa-
nies and in the markets. It continues to
be based on the global performance of
TAG Heuer and the progress made by the
other brands in a difficult economic envi-
ronment. The acquisition of the very
innovative Hublot brand, which carries a
powerful concept in its Big Bang icon and
whose very experienced teams share our
values, is in keeping with a true logic of
complementarity.
The deterioration in
the economy in the second half of 2008,
for which we were prepared, meant that
we were careful to target our investments
even more and cut operating expenses.
Despite the consequences of the econo-
mic slowdown, we were able to protect
our operating profitability and prepare
for the challenges to come.
Revenue
EUR million
2006
737
2007
833
2008
879
Profit from
recurring
operations
EUR million
2006
80
2007
141
2008
118
Investments
EUR million
2006
25
2007
28
2008
39
Revenue
by geographic region
of delivery
in %
8% France
28% Rest of Europe
19% United States
12% Japan
16% Rest of Asia
17% Other markets
42