The logo of LVMH is seen during the annual shareholders meeting of LVMH Moet Hennessy Louis Vuitton in Paris, France, April 18, 2024. Sarah Meyssonnier
The logo of LVMH is seen during the annual shareholders meeting of LVMH Moet Hennessy Louis Vuitton in Paris, France, April 18, 2024. Sarah Meyssonnier

French government: LVMH is pride of country but we understand Arnault's anger

January 29th, 2025 | 11:16 AM MARKETS European Markets 1

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By Reuters

Luxury goods giant LVMH (LVMH.PA) is the pride of France, but the government nevertheless understands the anger expressed by LVMH boss Bernard Arnault regarding French taxes, said a government spokeswoman on Wednesday.

Arnault said on Tuesday that the group was considering bulking production capacities in the United States, contrasting what he perceived as a "wind of optimism" in the United States with the "cold shower" of France.

She added that tax rises were temporary and that the government remained pro-business.

(This story has been refiled to fix the spelling of 'pride' in paragraph 1)

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