Hublot, the Swiss watch brand owned by LVMH Moet Hennessy Louis Vuitton SA (MC), expects 2011 to be the best year in its history and sees growth continuing in 2012, Chief Executive Officer Jean-Claude Biver said.
Hublot is benefiting from higher demand in markets such as Brazil, China and India, Biver said today in an interview with Bloomberg Television. Tourists from these and other emerging markets are bolstering sales in Europe, he said, adding that Hublot’s budgets for 2012 are higher than this year’s.
Next year “will still be good for luxury,” Biver said.
The Swiss franc is “too strong” and the 1.20 per euro limit, left unchanged today by Switzerland’s central bank, is “too low,” the CEO also said in the interview. Hublot would be more comfortable if the limit were raised to 1.28-1.30 Swiss francs per euro, Biver said.
