LVMH’s Philippe Pascal, head of the watches and jewelry division, talks about the growth potential in the luxury watch industry. Pascal joined LVMH in 1994 and was previously president of the wines & spirits group and president of Moet Hennessy.

Earlier this year, Pascal said orders for the new collections of Hublot and Tag Heuer watches, two of its biggest brands, were higher than expected in January.

“We had an encouraging January,” Pascal said.