LVMH‘s luxury watch brands, Hublot and Bulgari, have pushed their 2021 sales to pre-pandemic levels, even higher than those achieved in 2019.
This observed growth should also continue throughout 2022, thanks in particular to a strong American demand. “2021 was a good year, we did better than in 2019” , said Hublot’s CEO, Ricardo Guadalupe. He also added that sales in the United States have increased by 30% over the past year, also highlighting “excellent figures” in mainland China.
He went on to say that “we obviously won’t see the same strong rebound between 2021 and 2022, but we think we will have solid growth” .
For his part, Bulgari’s CEO Jean-Christophe Babin said that the watchmaking house had achieved a higher level of activity in 2021 than in 2020, and even before the 2019 pandemic, thanks in particular to gains in market share.
“We want to continue this positive trend in 2022” he said, before adding that “the US became our second largest market last year and currently has one of the best growth rates” .
However, a dark cloud on the sales momentum was that buyers, particularly tourists, were still largely absent and supply chain problems, mainly due to sick workers at the Omicron variant, had caused production delays. This growth was therefore further slowed down by these factors.
LVMH Watch Week
In parallel with these results, the luxury group LVMH inaugurated on Monday the third edition of LVMH Watch Week, which will end on Friday 28 January next. During this week, the four watchmaking companies of the luxury group, namely Hublot, Bulgari, TAG Heuer and Zenith, will unveil their latest models and their unique philosophy. From audacity to sophistication for Bulgari, from the dynamic innovation of Hublot to the avant-garde of TAG Heuer, not forgetting the legendary savoir-faire of Zenith.
For several years now, this “watch week” has become a benchmark for watchmaking professionals around the world.
— LVMH (@LVMH) January 24, 2022
“For this third edition of LVMH Watch Week, we are proud to once again highlight the collective dynamic of our four Houses – Bulgari, Hublot, TAG Heuer and Zenith – and to begin 2022 with a presentation of their latest innovations. Our customers and partners will be able to discover reinvented icons, limited editions and exceptional pieces, reflecting exceptional craftsmanship and a unique vision of watchmaking. Anchored in the values of creativity and innovation of the LVMH group, this event opens the calendar of watch presentations, before Watches and Wonders Geneva, which will be held in the spring of 2022,“ said Stéphane Bianchi, President of the LVMH Watches & Jewelry Division.
To find out what’s new in terms of watchmaking excellence from the four LVMH group companies, visit the websites and social networks of Bulgari, Hublot, TAG Heuer and Zenith from today, Tuesday January 25th, to follow the launch of this 2022 edition of Watch Week.
Featured Photo : © Hublot
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