* LVMH watch, jewellery head not ruling out acquisitions
* Pascal says ready to recapture profitable growth
ZURICH, March 12 LVMH (LVMH.PA) is not ruling
out acquisitions in the watch sector and is confident of
returning to profitable growth, the head of the French luxury
group's watch and jewellery unit told a Swiss magazine.
"With Hublot, we showed that we can undertake purchases if
the financial terms are reasonable and the brand has potential
for development," Philippe Pascal told the magazine Bilanz in an
interview published on Friday.
But he said the focus for now would be on organic growth.
Asked whether he might be interested in buying Italian
jeweller Bulgari BULG.MI, Pascal replied: "No comment. We'll
look at interesting offers, but Bulgari is not relevant now."
The watch industry is slowly emerging from its worst crisis
in two decades, helped by strong growth in Asia.
"We -- especially for the watches division -- are optimistic
that we can recapture profitable growth and gain market share,"
"But it would be presumptuous, even irresponsible, to give
LVMH watch and jewellery sales fell 19 percent on a
like-for-like basis in 2009.
(Additional reporting by Astrid Wendlandt in Paris, editing by