Several Supervisors Working for LVMH Have been Designated
By weaker demand and the impact of weak sales, famous watch maker Tag Heuer TAG Heuer interim CEO and president of parent company LVMH watch Jean-Claude Biver told Reuters in an interview that the brand has in the end of 2014 to “cleanse” more highly tube to cut jobs, while promoted from within the staff serving more than marketing, sales, customer service and other functions important positions, driving the attempt to re-brand watch sales.
China and Hong Kong anti-corruption due to the weak market, as the first and third largest Swiss watch export market downturn led directly to the Swiss watch exports in the past two years were only 1.9% increase, the Swiss watch exports to China market is recorded in two consecutive years It declines. Jean-Claude Biver in September 2014 disclosed that Tag Heuer TAG Heuer will therefore be cut, and it will cut 46 management and production positions and set 49 employees on temporary unemployment, TAG Heuer TAG Heuer, former president and CEO Stéphane Linder also leaving at the end of 2014 from the company.
Jean-Claude Biver explained promoted from within first, because brand management experience changes such as the introduction of talent from the outside brought fear destruction, the second is the internal staff a better understanding of the company and the brand’s history and culture.
Allegedly Tag Heuer TAG Heuer annual sales of about 900 million euros, of which about one-third from the United States the largest single market, accounting for the Group’s brand watches, jewelry sector annual revenue of about 2.782 billion euros in the third. LVMH Moët Hennessy Louis Vuitton SA (MC.PA) Moet Hennessy – Louis Vuitton Group fiscal 2014 watches and jewelry segment revenues increased 3% on a comparable basis increased by 4%, but the sector’s net profit from continuing operations It slumped 23 percent to 283 million euros, almost since 2013 –2014 global watch brands are basically clear inventory, discount sales, the Hong Kong market is particularly serious.