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Home » LVMH takes aim at $30 billion watch market with high-end, reinvented pieces

LVMH takes aim at $30 billion watch market with high-end, reinvented pieces

LVMH takes aim at $30 billion watch market with high-end, reinvented pieces

In this articleMC-FRFollow your favorite stocksCREATE FREE ACCOUNTLuxury giant LVMH is making a push to gain share of the global luxury watch business, with a newly formed watch division and an array of new, higher-priced models.Sales of luxury watches worldwide are estimated at about $30 billion this year, according to market research firm IMARC Group. They’re expected to grow to more than $37 billion by 2032, as global wealth increases and Generation Z and millennials become more interested in high-end mechanical watches.LVMH’s jewelry and watch division posted sales of $11.8 billion in 2023, representing a 7% increase in organic growth. The… 

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