Company spotkight lvmh

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Moet Hennessy USA, an importer and marketer of luxury wines and spirits in the US, has appointed Jim Clerkin as president and CEO. Clerkin joined Moet Hennessy USA in June 2008 as executive vice president and COO, with responsibility for global brands which include Hennessycognac, Moet & Chandon Champagne, Dom Perignon, Veuve Clicquot Champagne, Grand Marnier, and Belvedere vodka. Prior to joining Moet Hennessy, he had roles of increasing responsibilities within the Guinness Group, including serving as managing director of Gilbeys of Ireland for five years, as president of Diageo North America's western division, and as president of Allied Domecq North America from 2003until 2006. From 2006 to 2008, Clerkin was president of Beam Global Spirits & Wines, with responsibility for the US and Mexico. Clerkin also represents Moet Hennessy on the board of DISCUS, the Distilled Spirits Council of the US. In his new role, he succeeds Mark Cornell, who has been president and CEO of Moet Hennessy USA since 2006.

Business description
LVMH Moet Hennessy Louis Vuitton(LVMH), an international group of companies, is principally engaged in the manufacturing and sale of luxury products under various product categories and brand names. The company offers its products through a store network of 2,423 stores across the US, Europe, Asia Pacific, and some other markets. LVMH operates five reportable business divisions: fashion and leather goods, selective retailing, winesand spirits, perfumes and cosmetics, and watches and jewelry. The wines and spirits division produces and markets a range of champagnes, sparkling wines, still wines and other beverages. Moet Hennessy is the main subsidiary in this division. LVMH's champagne brands include Dom Perignon, Moet & Chandon, Ruinart and Veuve Clicquot Ponsardin. The company also offers cognac through its Hennessy brandand provides premium vodka under the Belvedere and Chopin brands. LVMH's fashion and leather goods division produce and market premium leather goods through Louis Vuitton, Loewe and Celinei and haute couture and ready-to-wear apparel through Givenchy and Kenzo. The distribution network for the segment totaled 1,164 stores around the world at year-end 2009. The perfumes and cosmetics divisionmanufactures and distributes fragrances and cosmetics through several brands including Parfums Christian Dior, Guerlain, Parfums Givenchy and Parfums Kenzo. Its products include fragrances and derivative scented products, make-up and beauty treatments. LVMH, through its Swiss subsidiary, TAG Heuer, is a designer, producer and marketer of Swiss sports watches and chronographs. The group's other watchesand jewelry subsidiaries include Zenith and Chaumet. The group also sells

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CM00102-002/Published 01/2011 Page 23

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writing instruments under the Omas brands. In addition, LVMH also has a joint venture with De Beers (De Beers LV) to market diamond jewelry. Selectiveretailing includes stores operated under the banners of DFS, Miami Cruiseline, Sephora, and Le Bon Marche. The company's subsidiary, DFS, operates selective retailing division. DFS operates a luxury goods distribution network for international travelers with a primary emphasis on the Asia Pacific region. Its primary store formats include DFS Galleria anchor stores, duty-free and general merchandiseconcessions, and boutiques in leading hotels and resorts, and specialty stores. These stores are located downtown in major cities near hotels and restaurants and in major international airports. Other operations under selective retail include: Sephora, a selective fragrance and cosmetics retail chain; Le Bon Marche; and Thomas Pink, a luxury shirt brand in the UK. LVMH also operates specialized...