Louis Vuitton 2011 Annual Report Download - page 6

LVMH 2011
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Chairman’s message
04 / 68
LVMH AND BULGARI: A SHARED CULTURE,
A SHARED ENTREPRENEURIAL SPIRIT
The alliance we made with the Bulgari family was one of the key moments of 2011. This
legendary Italian label is one of the most outstanding pioneers of authentic, accomplished
European craftsmanship. As well as being a leading jeweler and watchmaker, Bulgari also has
perfume and leather goods lines. We share the same values, the same respect for heritage
and brand identity as well as the same entrepreneurial culture. Now that we have joined
forces with Bulgari, our Watches and Jewelry business group has strengthened its
capabilities and savoir-faire and is reaping the benefits of new synergies. It has also
significantly increased its market share and ability to finance growth projects.
2012: MANAGING WITH A STEADY HAND,
INVESTING RESOLUTELY AND JUDICIOUSLY
The beginning of 2012 has continued amid the same uncertain environment in Europe as
the last few months of 2011. However, the world as a whole is experiencing growth. Building
on the strengths of the Group’s brands, the oldest of which trace their heritage back to the
sixteenth century, means following major shifts in worldwide demand. At the same time, we
will remain vigilant, close to our markets and responsive, a stance made possible thanks
to our decentralized organization. We will also persevere with our program of selective
investments in our businesses. LVMH has always grown stronger in periods of uncertainty,
while remaining true to the Group’s values: creativity, high quality craftsmanship and
entrepreneurial spirit.
ATTRACTING TOPTIER TALENT
Thanks to the Group’s diversity and culture, we are able to attract the most creative
and talented people, whether they are rising stars of tomorrow or have already garnered
international renown. We oer these exceptional individuals exciting, challenging projects
and we know just what it takes to light the spark that makes the dierence by matching each
of them with the most suitable brand. But the Group also attracts the best managers;
we offer them a unique environment and unequalled career development prospects.
Attracting, incubating and nurturing the most promising talent are strategic priorities for all
our businesses.
DEDICATING THE RESOURCES REQUIRED TO MAINTAIN
EXCEPTIONAL QUALITY
We ensure the quality of our products by carefully controlling the way they are made and
by conserving our savoir-faire. The year saw the opening of three new workshops by Louis
Vuitton, including one in Marsaz (Drôme region of France), which will employ 250 crafts-
people. This production unit was not designed simply to perpetuate Louis Vuitton’s pursuit
of perfection, but also as a showcase for sustainable development. Louis Vuitton is also pre-
paring to open a jewelry workshop in Place Vendôme, Paris. In Bordeaux, Château Cheval
Blanc opened its new wine storehouse, superbly combining architectural aesthetics and
wine-producing excellence. In Switzerland, Bulgari, TAG Heuer, Hublot and Zenith continue
to enhance their technological expertise along with their watchmaking capacity. These are
just a few examples of the resources deployed to ensure the future growth of our businesses
and maintain the quality which has made our brands so successful since their inception.