Jewelry in the news: LVMH Announces a 30% Increase in Income for Year.
Excerpt:
"Margins for Louis Vuitton topped 45 percent - a record level, even if we invested a lot of money in publicity," Olivier Labesse, a spokesman for the conglomerate in Paris, said in a telephone interview on Wednesday. Last year, Louis Vuitton, the 150-year-old luggage company, featured the actress Jennifer Lopez in its global ad campaign in very formalized poses, swinging one of the company's handbags with a stiff arm, as a male model appeared, apparently under her spell. (Despite the ad's success, the company announced last month that Ms. Lopez would not be part of its new campaign.)
All sectors except watches and jewelry showed increased profits. The watches division was dragged down by losses at Ebel, the Swiss watchmaker, that LVMH purchased at the height of the company's acquisition fervor of the late 1990's. Late last year, Ebel was sold to Movado for substantially less than was paid for it.
The operating loss at the watches and jewelry division widened to 48 million euros, or $59 million, from 13 million euros in 2002. Mr. Labesse said the company was "confident that we can reach the break-even point" for the watches and jewelry division in 2004.
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