New LVMH exec sees continued growth
By Beth Braverman
Springfield, N.J.—Ulrich Wohn, named president and chief executive officer of luxury conglomerate LVMH Moet Hennessy Louis Vuitton (LVMH)’s fast-growing watch and jewelry business in North America on Dec. 1, 2006, is handling a portfolio that includes watch brands TAG Heuer, Zenith and Christian Dior.
Wohn succeeds Daniel Lalonde, who was named president and CEO of Louis Vuitton North America.
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Loading ...Langman switching from speed to nostalgia for 2006 Rolex Sydney Hobart
In 1935 Maluka struck a cyclone during her first attempt to cruise to Hobart which put her on the rocks at Cape Conran on the Victorian coast near Marlo, at the mouth of the Snowy River.
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TAG Heuer shuffles team to get more retailer feedback
By Joseph Dobrian
Springfield, N.J.—TAG Heuer, known for using sports stars as brand ambassadors, is reshuffling the lineup of its own sales and marketing team, dividing its North American coverage into eastern and western territories.
Steve Amstutz and Patti McMahon were moved up to regional vice presidents of sales, for east and west, respectively; Rich Louis was promoted to vice president of demand planning and retail/corporate sales; and Jenna Fagnan was named vice president of marketing.
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Gold down, steel up in watch sales
By Beth Braverman
Randolph, N.J.—All that glitters is steel for luxury watch retailers.
Despite yellow gold’s turn in the fashion spotlight, consumers still want white metal when it comes to mid-range luxury wristwatches, retailers tell
National Jeweler
.
Sales of stainless steel watches within the $1,500-$9,999 price point jumped 22 percent from August 2005 to August 2006, creating a $1.2 billion market, according to information from the Luxury Goods Index (LGI), which tracks sales data from 6,800 retailers across the country.
“Steel has really picked up, and at this point, it is, by far, the biggest category in size and volume,” LGI Chief Operating Officer Andrew Talbert says.
By contrast, gold watch sales in the same price category lagged behind, with 14-karat-gold watch sales decreasing 30 percent to $21.6 million, and 18-karat-gold watch sales dropping 7 percent to $70.4 million.
Talbert says that 14-karat-gold watches have declined for years, prompting several watch manufacturers to get out of the market altogether.
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