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Funding round was led by private equity giant General Atlantic with participation from Aglaé Ventures, a technology-focused venture capital firm backed by Groupe Arnault, the controlling shareholder of LVMH.
Watches and Jewelry revenue almost quadrupled to €4 billion in comparison to last year.
Executives from 75 LVMH brands, home to Bulgari, TAG Heuer, Hublot and Zenith, joined CEO Bernard Arnault for a ceremony to sign the charter.
Aura's blockchain-based solution will provide incorruptible data on a product's provenance and history along with proof of authenticity, addressing the challenges of traceability, responsible sourcing and sustainability.
Swatch Group watch sales fell faster than those for Rolex and Tudor, leaving Rolex AG the largest watchmaking group in 2020.
Zenith's history of automatic chronographs dates back to the 1960s, but the company is keen to emphasise that the 2021 Chronomaster Sport collection marks the beginning of something new for the category.
This year, away from the Arabian sun, LVMH has hosted the event virtually and Hublot, Zenith and Bulgari have all taken the opportunity to debut new watches and new styles.
LVMH Watch Week in Dubai was one of the great innovations of this year, but the kick-off event will take place online next January.
Rimowa is making its first move into lifestyle accessories like watch cases that adopt the aluminium signature design of its suitcases.
Original price of $16 billion has been reduced to $15.8 to get the deal over the line and avoid litigation next year.