All sectors showed a positive trend. Luxury watches (Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne) recorded growth of 15% (+20% corrected for exchange rate effects), to 1,378 million euros. The jewellery sector (Cartier and Van Cleef & Arpels), the largest in the group, registered growth of 9% (+16% corrected), to 2,657 million. In the field of writing instruments (Montblanc and Montegrappa), sales rose by 9% (+14% corrected), to 637 million. The leather goods and accessories division (Dunhill and Lancel) recorded the weakest growth with an increase of 1% (+6% corrected). Lastly, turnover of Chloé, under "other businesses", increased by 8% (+13% corrected), to 320 million.

All regions contributed to the rise in turnover. The best performance was recorded by the Asia-Pacific region where sales increased by 21% (+31% at constant exchange rates), to 1,296 million euros. Sales declined in Japan however (-5%, but +3% in yen), to 698 million. Europe (including the Middle East) accounted for 43% of group turnover. With growth of 12% (+14% corrected) to 2,293 million, the region had a good year. The Americas suffered from the weakness of the dollar, posting a turnover of 1,014 million, an increase of only 3% (+13% corrected).

Courtesy: Federation of the Swiss Watch Industry FH, Switzerland

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Posted by Jigar Gondalia on 6 May, 2008 5:14:07 PM IST #