Luxury watch group is ''not ruling out acquisitions''

First published: 15-03-2010

French luxury group LVMH is not ruling out the possibility of acquisitions in the watch sector over the next few months, the head of the organisation's watch and jewellery unit has told a magazine.

In an interview with publication Bilanz, Philippe Pascal said that with the investment in Hublot, it was demonstrated that the organisation can make purchases if the financial terms are fair and the brand development potential, though organic growth is now the primary focus.

Italian jeweller Bulgari is not the greatest thing on his list of buy-ins, however, despite many rumours hotly linking the pair, insisting that he had "no comment" to make, though it is still not relevant to LVMH's direction.

He added: "We - especially for the watches division - are optimistic that we can recapture profitable growth and gain market share."

Among LVMH's investments are Tag Heuer, Glenmorangie, Krug and Louis Vuitton.

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