LVMH says focus in watch, jewellery business is organic growth
PARIS, July 26
PARIS, July 26 (Reuters) - French luxury goods group LVMH on Friday said it wished to focus on growing its watch and jewellery business without making acquisitions and that restructuring and revamping the Bulgari brand was its priority.
"The focus is on organic growth," LVMH Finance Director Jean-Jacques Guiony told investors in a conference call about second-quarter results, adding that turning around Bulgari, acquired in 2011 for 3.7 billion euros, was a "long-term process." (Reporting by Astrid Wendlandt; Editing by Christian Plumb)