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.
National Jeweler
recently caught up with Wohn, who joined TAG Heuer in 2002 as vice president of marketing and served as senior vice president of sales and trade marketing for the brand in North America.
National Jeweler
: How will your sales and marketing experience at TAG Heuer help with your new post at LVMH?
Ulrich Wohn
: Because of my background and the team here at TAG Heuer, we have strong relationships with our retail partners on the marketing and the sales level.
NJ
: What do you think is behind the continued growth of watch and jewelry sales at LVMH?
UW
: We feel we have the strongest network of distribution in the industry and innovative product development. We stay close to our roots and have a profound understanding of the retail-market environment.
NJ
: Do you expect the growth to continue?
UW
: Yes. We have great retail partners, a fantastic sales and marketing team, which is one of the strongest in the industry, and a devotion to product development.
NJ
: How do you differentiate among the LVMH watch and jewelry brands?
UW
: Each brand has its own identity and brand strategy in accordance to its own heritage and global positioning.
NJ
: How is the luxury market overall?
UW
: From our standpoint, the luxury consumer is responding in a robust way. TAG Heuer is growing significantly, and it’s clear that it’s a very relevant brand for the luxury consumer.
NJ
: How important are female self-purchasers to your brands?
UW
: Very important, as she has gone from representing 15 percent to 40 percent of our overall business over the past three years. We are targeting her with product, based on feedback from our partners and customers, specifically designed for her. Additionally, our female brand ambassadors—Uma Thurman and Maria Sharapova [at TAG Heuer]—both reflect the strength and beauty of the brand and have resonated within the overall market.
NJ
: What are the most important watch trends you see in the United States?
UW
: The two more important trends are steel and 18-karat gold, and consumers, particularly women, wearing larger timepieces.
NJ
: What are you doing about counterfeits?
UW
: LVMH is dedicated to combating counterfeit luxury goods by working with global and local law enforcement agencies. [Locally], we are very pleased with support from U.S. Customs and the New York Police Department.
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