On January 26, 2017, LVMH reported its earnings results for the fiscal year that ended in December 2016. Information relevant to TAG Heuer (and the Watches and Jewelry business unit) can be found in a PDF report. Important points: Page 7: Revenue for Watches and Jewelry increased by 5% on a constant consolidation scope and currency basis, as well as according to published igures. This business group saw a very strong set of performances by TAG Heuer, Chaumet and Fred as well as growth by Bvlgari. Asia and Europe (excluding France) were the most buoyant regions. Page 8: Profit from recurring operations for Watches and Jewelry was 458 million euros, up 6% with respect to 2015. This increase was the result of the strong performance achieved by TAG Heuer and Bvlgari, with operating margin as a percentage of revenue remaining stable at 13%. Page 14: The revenue growth reported by TAG Heuer in a challenging overall watch market underscored the relevance of the brand’s strategy of developing its core product range. The brand's momentum was buoyed by product launches adding to its iconic Carrera, Aquaracer and Formula 1 lines. Highlighting TAG Heuer’s reputation as a pioneer, the brand continued to successfully roll out its connected watch across all markets. The company continued to improve its store network, opening new stores in Melbourne, Kuala Lumpur, Tianjin and Macao. The brand’s visibility among its target customers and its social media presence were strengthened by new ambassadors and a number of partnerships, including those with the BMC cycling team, the Red Bull Racing Team and, in soccer, the English Premier League and the Chinese Super League. Outlook, page 14: The Watches and Jewelry business group is actively pursuing its market share growth target. Over the coming months, LVMH will focus on boosting its brands’ visibility and reputation for excellence in the most buoyant regions through sustained investment, particularly in the digital arena. Selective new store openings will take place at prestigious, high-trafic locations. Bvlgari plans to open its new Fifth Avenue boutique in New York in late 2017. Hublot will accelerate the targeted expansion of its own stores, while Chaumet will continue rolling out the new store concept it launched in Hong Kong at the end of 2016. As well as their masterful watchmaking and jewelry-making expertise, the brands’ innovation - a key driver of growth - will remain at center stage, allowing them to enhance their collections while maintaining a constant focus on excellence and creativity. TAG Heuer will continue to develop its smartwatch, in particular. In an uncertain economic and geopolitical environment, this strategy will go hand-in-hand with a highly attentive approach to markets and strict control over costs. Investment will be targeted at improving the quality, productivity and proitability of retail networks. Production capacity will be developed to enable the group to maintain its world-class craftsmanship and technological leadership. Bvlgari’s growth will be supported by its new jewelry manufacturing facility in Valenza, which started operating in January 2017. The facility will eventually create more than 300 new jobs for craftspeople, relecting Bvlgari’s focus on developing skilled jobs in the jewelry profession. C.f. 2016 1H earnings report, as discussed here.