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LVMH 2019 . Wa t c h e s & J e w e l r y

78 79

Major strategic pr ior ities

Reinforce our Maisons desirability thanks to expert craftsmanship

and distribution.

Continued growth of Bvlgari and of TAG Heuer

with innovative products.

Optimally reinforce manufacturing facilities.

Profit from recurring operations

7 36 m +5%

Revenue

4 ,405 m +3%(1)

Number of stores

457 +7%

Operating investments

296 m 2%

2019 REVENUE BY REGION (in %)

Other markets

14%

Asia (excl. Japan)

38%

France 5%

Europe (excl. France) 23%

United States 8%

Japan 12%

(1) On a constant consolidation scope and currency basis.

LVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 ENLVMH RA2019 EN
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