LVMH Moët Hennessy Louis Vuitton has acquired the fast-growing Swiss watchmaker Hublot--known for its expensive Big Bang brand--for an undisclosed sum. LVMH's watch and jewelry division already includes the Zenith, Tag Heuer, Chaumet and Fred brands. The acquisition comes at a time of extraordinary growth for the high-end Swiss watch market, spurred by demand in emerging markets from China to Russia. Exports of Swiss watches grew 16% last year, the highest rate in 18 years. Many Swiss watchmakers have bolstered production in efforts to slake thirst for the most expensive models. Hublot, founded in 1980 by Carlo Crocco, has …

Mia Farrow's activist group, Dream for Darfur, on Thursday issued a report card that gave 16 of 19 Olympics sponsors a D or an F for their efforts to pressure China over human rights. The highest marks were earned by Adidas, McDonald's and Eastman Kodak. Activist groups, including Students for a Free Tibet, Amnesty International and Reporters Without Borders have been sending letters to Olympics sponsors asking them to take a stance on human-rights issues. At least Olympics three sponsors--Coca-Cola, Johnson & Johnson and General Electric--are firing back. "For an organization that has not eased the suffering of a …

Clothing retailers are facing a double whammy of drooping consumer interest--fueled by economic woes--coupled with their own rising costs for raw materials such as cotton, fuel to transport goods and even labor in China. Their problems could turn out to be more severe than for other retailers because, for many people, a new skirt or shirt is more of a splurge than a must-have item. The down economy is hitting a broad swath of clothing retailers, ranging from stores aimed at older women to those that appeal to trendy teens. Sales at chain stores open at least a year …

Product of the Year, which was created in France in 1986 and is now in more than 20 countries in Europe plus Brazil, is making its debut in the U.S. The company's new U.S. unit will work with TNS Market Research to poll about 100,000 consumers about which new products they liked the best in about 35 categories. Categories employed in previous Product of the Year awards abroad have included men's grooming, feminine care facial skincare, laundry, drinks, snacks, condiments and household cleaning. The winners will be announced in January. Product of the Year has a CPG focus …

A day after announcing it would post weaker-than-expected earnings, Starbucks says that Ken Lombard, president of the entertainment unit since 2004, has departed. CTO Chris Bruzzo will take the reins of the division, which selects and markets music, books and other items sold in Starbucks coffee shops. The shift of the entertainment unit to Bruzzo's control underscores Starbucks's interest in pursuing sales of music and other products online. Starbucks struck a deal last year to offer special access to Apple's iTunes digital music through the wireless network at more than 600 locations, with more expected to follow. Starbucks …

Despite Wal-Mart's assurances that it has returned to selling the most basic clothing, it has been striking deals to bring in new brand-name designers and apparel. Among them is the once red-hot Norma Kamali, who is creating a clothing line for Wal-Mart that will debut in the fall. It also has signed deals with California surfer brand Op and Jones Apparel Group's junior jeans line l.e.i. The world's largest retailer has tried for years to muscle into the cutting-edge fashion business, but its big dive into higher-priced apparel alienated Wal-Mart's loyal core customers. Now Wal-Mart is wading back into …